I welcome you to the Winter Session of Parliament. We have had a fruitful inter-sessional period. Our Party's organisational elections not only set the seal on our commitment to inner-party democracy but also demonstrated our unity and strength of purpose.

Thank you for the support you extended me. It is your solidarity that is my staff in the long journey ahead. Meanwhile, the Government of the day has limped along. The economy is in a mess. Our worst apprehensions have been proved right. Every parameter of growth is in disarray.

For all the vain claims of the Finance Minister in his Budget speech that he would take the economy to a sustained growth path of 7-8 percent, and the Prime Minister's affirmation in the United States that the economy would soar to a 9 percent growth path in the Tenth Plan, the fact is that our economic performance in the current year is going to be even more dismal than last year.

At the mid-point of the current fiscal year, the indications are that industrial growth is stagnating at about half the double digit figure targeted in the budget; agricultural production is unlikely to exceed last year's poor growth even if we have a good rabi season; uncontrolled imports are harming Indian industry, especially small and tiny industry.

The rupee is plunging; prices are rising, inflation is growing; there is a net outflow of foreign institutional investment; foreign direct investment is languishing; foreign exchange reserves, for the first time in a decade, are declining; domestic capital formation is hopelessly inadequate; and the stock market is in the doldrums. It is easy to blame all this on the oil price rise, but isn't government's duty to anticipate crises? When oil prices registered their first sharp shock in 1973, Indiraji fought off the challenge with grit and determination. Moreover, she availed of the opportunity to promote massive increase in domestic oil production that India had ever seen.

Today, in real terms, the international price of oil is what it was in the 70s. it would, therefore, be unrealistic to imagine that any considerable easing of oil prices is likely in the near future. The only answer the Government has to this challenge is the indiscriminate disinvestments of national assets. We demand an immediate stop to this wanton wastage of national wealth.

We will insist on reviving the debate on disinvestment in this session. What is happening on the food security front is equally distressing. While stocks with the Good Corporation of India have become a unmanageable mountain of 40 million tonnes or more, PDS issue prices are often ruling higher than market prices. This has resulted in a fall in PDS off-take while the level of malnutrition in the country climbs to unacceptable proportions.

The root cause of this crisis is the unjustified hiking of food prices for both BPL and APL categories through the Budget. We protested strongly. But instead of listening to the voice of reason a voice which was also heard within the ranks of the NDA, the Government went ahead with doubling prices - and are today stuck with an un-sellable food stock where more than two-thirds of the people go to bed hungry. On the political front, the Prime Minister revealed the real face of this Government at the VHP-organised rally in New York. We shall articulate the concern of the minorities in both the Houses. We shall not fail them in their hour of need. Nor will we allow the Government to get away with saffronising education and our educational institutions.

India after Independence built up a reputation world-wide for fierce independence of thought and integrity of action. At a time when we were much weaker militarily, economically and even politically than we are today, we cultivated a voice that was heard with respect throughout the world and our influence in world affairs was considerable. This is no longer so. We can now say that the Prime Minister's visit to the United States produced no tangible results.

The contrast to the solid results secured from the maiden visits made by Panditji to the USA in 1949 or of Indiraji in 1966 or of Rajivji in 1985 and later by Narasimha Rao, could not have been more stark.

In West Asia, the principles of our Freedom Movement are on test. For us, the liberation of Palestine was always an integral element of that movement. And ever since we were appointed to a crucial UN committee to consider the future of Palestine in April 1947, even before our own Independence, we were an active participant in all Palestinian matters. The BJP was, of course, no part of this. That is perhaps why they have remained silent throughout the recent crisis in Palestine. We want India's relations with Israel to be cordial but not at the cost of our time-tested relations with the Arab countries or justice for Palestine. We shall also ask for a comprehensive discussion on foreign affairs during this Session.

The Government has offered an unilateral cease-fire in Kashmir for the duration of Ramzan. We welcome this and any such move or action aimed at de-escalating the tension and violence in the Valley. At the same time, we do hope that unlike last time the Government has thought through its policy and contingency plans are ready in case things do not work out satisfactorily.