Pranab Mukherjee announces substantial hike in MPLAD scheme

March 11th, 2011 - 5:16 pm ICT by ANI  

Pranab Mukherjee New Delhi, Mar 11 (ANI): Union Finance Minister Pranab Mukherjee announcing a substantial hike in the Member of Parliament Local Area Development (MPLAD) scheme, on Friday said that each MP will get now five crores instead of two crores in the scheme.

Replying to a debate on the General Budget in the Lok Sabha, he said: “Each MP will get now five crores instead of two crores in the scheme. It will involve an expenditure of 2370 crore rupees.”

Mukherjee, however, made it clear that in States, where Assembly polls have been announced, the funds can be used after the process is over.

Countering the allegation of the opposition over the black money issue, he said: “The issue of black money can be tackled within the framework of law and the system needs to be improved.”

Further explaining the rationale of the budget proposals, Mukherjee said that increasing agricultural productivity and reducing wastage has been his priority and gave the steps envisaged in the budget for the purpose.

“The agricultural credit has been enhanced manifold and farmers who have been making loan payments continue to get inter subvention. Those farmers who pay their loans in time are paying only four percent interest,” he said.

Admitting that it is important to augment the electric supply, Mukherjee set aside the charges of the opposition that nothing substantial has been done in this sector. (ANI)

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