Senior BJP leader and MP from Darjeeling Jaswant Singh, on Friday called for merging the ministries for railways, finance and the Planning Commission under a new entity called Ministry of Economic Development.
He described the Finance Bill as the 'child of the general budget' and said it should be abolished or broken up by the government.
Singh was initiating the debate on the Finance (No 2) Bill 2009 in the Lok Sabha on Friday. The former finance minister said that finance minister Pranab Mukherjee should not spend his time on accountancy but apply his mind to the reality of economic management of the country.
He added that the finance ministry should be reformed to develop the country and not torture the man in the street.
He said that like US, India too should have a US-style department of treasury.
He added that the Finance Ministry was the only ministry in India that had not been reformed since British times and said that it was an instrument of moral reform of the country.