After former Finance Minister Yashwant Sinha’s scathing attack on the BJP’s handling of the economy, the Estimates Committee of Parliament, headed by veteran ruling party leader Murli Manohar Joshi and dominated by BJP MPs, is preparing to air its concerns about economic policy decisions especially demonetisation and the conceptualisation and the implementation of GST.

The Estimates Committee will set its agenda for the next year on Tuesday. Select MPs in the panel, representing both the ruling and the Opposition parties, told Business Line that they will “insist” that the condition of country’s economy after the implementation of demonetisation and GST must be studied by the panel. BJP and its supporters constitute more than 60 per cent of the total membership in the panel.

The panel was supposed to decide its next course at a meeting held on September 27. Only 11 members in the 28-member panel (two posts are vacant) were present in the meeting.

“The agenda was discussion of future programme. Many members were absent as various festivals were taking place at various States. Those participated said issues like unemployment, industrial problems and economic distress must be taken up for the next year. The Chairman said other members should also get an opportunity and decided to hold another meeting on October 10,” said an MP on the condition of anonymity.

Another MP from the ruling side said he had been “flooded” with complaints about the way the economy was being run. He said that representatives of industrial associations in his constituency had met him recently and complained about the issues relating to GST implementation.

“After demonetisation, their (industry’s) profit margin reduced. Now, with GST implementation, they said, they are doubly distressed. They are forced to retrench workers. Such issues are important and we have to raise them in Parliamentary forums,” the member said.

The functions of the Committee on Estimates, according to the Rules and Procedures of the House, include suggesting alternative policies in order to bring about efficiency and economy in administration, to examine whether the money is well laid out within the limits of the policy implied in the estimates and to suggest the form in which the estimates shall be presented to Parliament.

“We are well within our brief if we discuss the impact on demonetisation and GST to the economy,” the member added.

Additionally, the panel is taking evidence from the representatives of the Ministry of Planning, Labour and the NITI Aayog on the issue of ‘Measuring Growth, Employment and Income’. The changes made recently to measure GDP growth is also being critically examined by the panel.

The Finance Standing Committee of Parliament and the Public Accounts Committee of Parliament have already taken up demonetisation and its impact for discussion. If the Estimates Committee takes up post-GST problems for discussion, it would be the first House panel to do so.

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