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The members also sought a roadmap for rolling out the much delayed GST (Goods and Services Tax) whose implementation would lead to two per cent rise in the country's GDP.
"If you are not aggressive in pushing reforms, Indian economy will remain vulnerable to slightest of changes in the international scenario," senior Congress leader M Verappa Moily said initiating a discussion on the Finance bill.
Dubbing the budget 2014-15 as "status quoist", he said despite much talk and promises, the government has not taken the economic agenda forward.
Moily said there has been no effort made to bring major reforms in the tax administration, noting that when BJP was in the opposition, it used to attack the government over "tax terrorism". " Have you made any attempt to remove that type of tension now?", he asked the government.
The former Union Minister also made a strong plea that there was need to redefine the role of the regulators at a time when the bureaucrats are fearing to take decisions as "regulator is haunting every official and is holding every action suspect".
He suggested this atmosphere needed to be changed to brighten up the investment climate.