The Hindu : National : An outstanding job: Manmohan

Online edition of India's National Newspaper
Wednesday, Mar 01, 2006

National

National

An outstanding job: Manmohan

Special Correspondent

NEW DELHI: Describing the Union budget as "outstanding," Prime Minister Manmohan Singh has said the challenge is the economy has to grow at between 8 and 10 per cent from 7.5 per cent.

Reacting to the third budget of his Government presented on Tuesday, Dr. Singh said here the economy was on the threshold of an unprecedented opportunity. The savings and investment rate was on the rise, he said and expressed confidence that with sound macro-economic management there would be a forward movement.

The Finance Minister allocated substantial money for eight flagship social sector schemes such as the National Rural Employment Guarantee and the Rural Health Mission.

The proposals laid a strong emphasis on helping farmers. The proposal to give short-term agricultural credit up to Rs. 3 lakh at 7 per cent interest was a "major step." "Overall the Finance Minister has done an outstanding job of helping farmers and economy, and has not imposed any new taxes. The middle class should be happy."

Balanced: Congress

The Congress said the budget was "balanced and growth-oriented." Since the advent of the United Progressive Alliance Government, nation building had been continuing and tremendous growth had been witnessed in all sectors.

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