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Reforms cannot be held hostage to politics: Sinha

Under attack from the opposition for presenting an "anti-poor" Budget, Finance Minister Yashwant Sinha on Thursday said the pattern of economic reforms, as proposed in the Budget, was a "forward movement" and should not be held "hostage" to the political process in the country.

"I have tried to take forward the reforms process. I hope this is not held hostage to political process of the country. It is like crossing the forest in the darkness of night. If you stop mid-way, the tiger will eat you," Sinha said.

"If it happens (the reform process is stopped), I will plead to the government, political parties and Parliament as the reform process is still incomplete," the finance minister said.

On the criticism that there was no "grand plan" in the Budget, Sinha said "you cannot have grand plans year after year. It was there in the last Budget."

Citing example of resistance by political parties to the proposed labour reforms, Sinha said, "it is a classic case. We are facing problems. There is no consensus. Even the largest opposition party has said that they will not support us on the issue."

"But we will reason it out with them," he said.

"If the reforms were implemented, things will be better but I cannot be sanguine", he said.

On proposed taxes, he said the actual taxes being raised were minimal leaving out the levy on the oil and its products.

PTI

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