Live: BJP leader Yashwant Sinha mocks at UPA's economic policy
Live: BJP leader Yashwant Sinha mocks at UPA's economic policy
Finance Minister P Chidambaram assured the Parliament that government is taking steps to correct the fiscal deficit.

New Delhi: 3:20 pm: Former finance minister and BJP leader Yashwant Sinha mocked at the government's attempt sto keep foreign exchange in the country. He also slammed the government's policy to import coal when it could ask Coal India to increase production.

1:45 pm Making a statement on the naxal attack in Odisha on Tuesday in which 4 BSF personnel lost their lives, Home Minister Sushil Kumar Shinde said, "I have sought details of the ambush. Its true that an attack had taken place."

1:15 pm: Samajwadi party MP Jaya Bachchan raised the issue of the Mumbai gangrape in the Rajya Sabha and said that the government has failed in every aspect of governance. Demanding answers from the government, she said that the MPs should bring in solutions.

1:10 pm: Highlighting the failures of the government, Gurudas Dasgupta said that it is the incompetence of the government which has brought the Indian economy to such a level. He said that the government has a wreckless tax policy where the highest tax is paid by those in the lowest bracket of tax. "The common man first pays the tax and then eats roti," he said.

12:40 pm: During a discussion in the Lok Sabha on the economic scenario in the country, CPI leader Gurudas Dasgupta called the economic situation as 'alarmingly dangerous'. "It is chaotic like never before. The crisis of 1991 is not far away," he said.

12:29 pm: Shiromani Akali Dal MPs entered the well of the Lok Sabha demanding time to speak on the flood situation in Punjab.

12:12 am: Rajya Sabha adjourned for 15 minutes after uproar on the issue of Telangana. Two TDP members have been suspended from Rajya Sabha for the day for continued protest against formation of Telangana.

11:59 am: Home Minister Sushil Kumar Shinde said that the government spoke to the Pakistan Foreign Minister about underworld don Dawood Ibrahim during the Minister's visit to India. He added that the government has pressed on the issue of Dawood being in Pakistan on all possible occasions.

11:57 am: RPN Singh's statements created uproar in the Lok Sabha with the BJP voicing its objections to his statements.

11:56 am: Minister of State for Home Affairs RPN Singh targeted the BJP saying that the government has taken all possible steps against terrorists unlike the opposition when it was in centre.

11:43 am: Replying to a question by BJP leader Ravi Shankar Prasad, Chidambaram said that there are domestic factors also that have affected the rupee valuation. "I did say not only external but domestic factors. There are domestic factors. One of them is we allowed fiscal deficit to be breached because of certain decisions we took which brought us growth and stabilise economy but we paid the price for it. We are taking steps to correct the fiscal deficit. We will not breach the new fiscal targets. The current account deficit is a concern, we spent more dollars largely for essential exchange like oil. We are taking steps to contain the current account deficit," the Finance Minister said.

11:40 am: The Finance Minister during the question hour in Rajya Sabha said that the debate about inflation and growth is misplaced. "I endorse that central banks primary goal should be price stability, we communicated it to the RBI. We hope that working together we can strike a balance," he said.

11:10 am: MPs discuss the compensation to farmers for food crop loss during the Question hour in Lok Sabha.

11:05 am: MPs create uproar in Lok Sabha over the issue of 'missing coal files'.

Congress President Sonia Gandhi's ambitious Food Security Bill won the Lok Sabha vote on Monday night after days of unruly scenes in Parliament. The Food Security Bill was passed by the Lok Sabha after Sonia Gandhi forcefully pushed the case.

Leader of the Opposition Sushma Swaraj said that the BJP regarded the bill as 'half-baked and weak' but the party gave its consent with a hope that the BJP will improve the Bill once they come into power. "We had proposed some amendments. Had the government accepted them, the bill would have been better. But it seems that the government is bent on passing this bill. So we support this weak bill. We will change it once we come to power," Sushma had said.

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