New Delhi: Opposition members in the Lok Sabha on March 10 demanded rollback of Budgetary hike in prices of fertiliser and diesel as they attacked government's handling of the economy alleging it was heading for a catastrophe.

Participating in the resumed discussion on Union Budget, they were also critical of growing fiscal deficit and the disinvestment policy under which public sector units were being sold off like "junk".

P H Pandian (All India Anna Dravida Munnetra Kazhagam) made a strong plea that income tax exemption limit be raised to Rs one lakh and incentives be given to honest taxpayers. He wanted the government to keep rich businessmen who owe huge amounts to banks under surveillance.

Margaret Alva (Congress) expressed concern over reports that 14 industrialists, forming part of the advisory committee on economic policy to the Prime Minister, owe Industrial Finance Corporation of India (IFCI) as much as Rs 1,577 crore.

Apparently referring to Ayodhya, she regretted that while the government was busy in carrying out excavations at ancient temples, the public sector units, whom Pandit Nehru had described as "modern temples", were in "shambles and ruins".

Stating that the Budget proposals would benefit only the rich, she said coconut should also be included in the Rs 500 crore price stabilisation fund for the plantation sector to mitigate the plight of growers.

PTI