Madam, Deputy Chairman, when the House rose for lunch, I was discussing the response of the public to the loan programme of the Government and was trying to point out that it was rather a serious tendency in the sense that the response of the public had been proved to be poorer during the Second Plan period than during the First Plan period. I was trying to point out that looking to the fact that the national income was rising and the people were becoming more conscious of developing economy and the need to mobilise the resources more and more, a contrary trend ought to have appeared and that In view of that this trend was disturbing. This trend is to be contrasted with the trend of the public regarding the call from the corроrate sector for the investment of their moneys. Here, we find that the shares of some of the new companies or of the old companies that are issuing new shares are over-subscribed at times to the extent of fifteen times the capital that has been asked for by the companies. So, here are two pictures; one, the picture of the Government asking the public to subscribe to the public loans and the other, the picture of the response of the public to the corporate sector demanding investments from the public. While, on the one hand, there is an enthusiastic response to the demand from the corporate sector, on the other, there is a very poor response as far as the loan programme of the Government is concerned. This is a matter of some concern, and I feel that the Government should pay more attention than just exhorting the people to save more and to hand over their savings to the Government as the hon. Finance Minister has done more than once. If it would have been merely a question of rediverting the money that is coming from the corporate sector to the public exchequer in the form of loans, perhaps the matter would not/have been so serious. Then, it would have been just a question of reallocation of the functions between the public sector and the private sector. But I feel that there is a large amount of money which is just changing to some lucrative channel and that explains why the response to the demand from the corporate sector is fifteen times. (400) Submit