The Hindu : Other States / Pondicherry News : `A budget for balanced growth'

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Saturday, Jul 10, 2004

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`A budget for balanced growth'

By Our Staff Reporter

PONDICHERRY, JULY 9. The first budget of the United Progressive Alliance Government presented by the Finance Minister, P. Chidambaram, envisaged balanced growth of various States with social justice, said the Pattali Makkal Katchi Parliamentary leader, M. Ramadass (elected from Pondicherry).

It emphasised private and public sector investment for promoting growth in the agriculture, industry, and service sectors and infrastructure.

The new schemes to provide basic education, drinking water, basic health care, jobs, microfinance to self-help groups and farm and cattle insurance were aimed at alleviating poverty and mitigating unemployment. Several tax concessions for industry, agriculture, weavers, and textiles and also abolition of CENVAT (Central Value Added Tax) besides enhancement of tax limit to Rs. 1 lakh would ensure growth and compliance.

Growth-oriented: Minister

The Education Minister, K. Lakshminarayanan, said the budget was growth-oriented, setting the path for speedy progress in all fields. Farmers, workers, students and the poor would benefit. The funds earmarked for rural development and for infrastructure would benefit the rural people. The poverty alleviation programme was another highlight. The thrust was given to education and the two per cent cess would help to achieve the goal of compulsory education for all.

T. Geethanathan, General Secretary, Pondicherry Agriculturists Union, welcomed the emphasis on social justice and agriculture.

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