Thaindian News

New Delhi, July 6 (ANI): Prime Minister Dr. Manmohan Singh toady said that Finance Minister Pranab Mukherjee has done an admirable job by reconciling short-term requirements of the economy with medium term goals.

“I believe he has done an admirable job in reconciling short-term requirements of the economy with the medium term goals of our economic and social policy and the commitments that we made to our people in our election manifesto,” he said.

“He has chosen a strategy to concentrate on increasing investments in the infrastructure sector both in the public sector and in the private sector through PPP route,” he added.

“The strategy of the budget is to ensure that our economy recaptures the rhythm of the accelerated growth process. It seeks to honour in large measure, the commitments that we have made to our people to work steadfastly for the well being of the Aam Aadmi,” he said.

Underlying the importance of reducing the impact of the global slowdown, Dr. Singh said that the growth momentum of economy must be maintained.

“We should aim to achieve eight to nine percent growth in medium term,” he said, adding the Budget was aimed at minimising the “impact of the global recession”.

He said handsome additional allocation has been made for inclusive growth and other flagship programmes like Urban Renewal Mission and National Rural Health Mission.

On the increased allocation for various rural programmes such as National Rural Employment Guarantee Programme for which Rs.39,100 crore has been earmarked and Bharat Nirman for which allocation has been hiked by 45 per cent, Dr. Singh said, “these are all programmes which will primarily benefit our rural areas and reduce the gap between Bharat and India.”

The budget is being seen as a roadmap for how Dr. Singh will govern for the next five years after his party was re-elected by an unexpectedly decisive margin, focused heavily on farmers and the poor. (ANI)