Batting for radical financial reforms, the BJP suggested on Friday abolition of the Finance Bill and clubbing of Railways and Planning Commission with the finance ministry, which it said should be rechristened as ministry of economic development.
Initiating the debate on the Finance Bill in the Lok Sabha, BJP leader Jaswant Singh said the finance minister should not spend his time in 'accountancy' but 'apply his mind to the reality of economic management of the country."
Terming the Finance Bill as the 'child' of the Union Budget, he said it (Finance Bill) should be abolished and if not, then the government should 'break it up'.
The former finance minister said the finance ministry should be reformed to develop India and not to 'torture' the common man.
He suggested that like the United States, India too should have a department of treasury.
Claiming that he does not want to create a confrontation between fnance mnister Pranab Mukherjee and railway minister Mamata Banerjee, Singh suggested that the railway ministry and Planning Commission must be 'clubbed' with finance ministry.
He said the Planning Commission could be rechristened as 'Reforms Commission' and the finance ministry as ministry of economic development.