Budget aims at faster, equi growth: PM
Zeebiz BureauNew Delhi: Prime Minister Manmohan Singh on Friday said the Union Budget for 2012-13 was aimed at faster, equi , sustainable and more inclusive growth.
Speaking to a TV news channel, Prime Minister said, “Finance Minister Pranab Mukherjee has been able to address the twin tasks of checking inflation and accelerating growth.”
When quizzed about the challenges faced by the government in bringing the economy back on track, the Prime Minister admitted, “The government will have to take some tough decisions to keep the economy afloat and bring it back on the 8% growth trajectory.”
Alluding to the subsidy cuts announced by the Finance Minister, Singh said it was a task that would require the government to adjust the prices of petroleum and other relevant products.
"We have to bite the bullet. There is no other way to reduce subsidies," the Prime Minister said, while backing the budget proposal for cutting subsidies to two percent of the GDP.
He, however, maintained that the biggest challenge this year would be to keep the engine of economic growth moving with a steady rate despite the economic meltdown being witnessed across the world.
He also ensured that his government is committed to ensuring faster, sustainable and equi growth, which is the biggest challenge at the moment.
When quizzed weather he was satisfied with the economic growth of the country, PM Singh said, “Protecting growth rate, which is better than most of the countries, has been the biggest achievement of the UPA-II government in the last three years, ” while adding, “There was a need for taking sensible decisions.”
"We are in the league of frontrunners in the growth momentum," the Prime Minister said while stressing on "faster, sustainable and inclusive growth".
"When time comes for taking tough decisions, we hope we will be able to take all our allies on board," he said while referring to the coalition compulsion and the pressure being faced by the UPA government from its allies in the successful implementation of the proposals made by the Finance Minister in the Union Budget.
Read More....
0 comments:
Post a Comment