PM lauds Budget as 'bold'

Terming the 2002-03 Budget as "bold" despite the global recession, Prime Minister Atal Bihari Vajpayee on Thursday asserted economic reforms would not affect developmental activities and that employment opportunities would be improved.

Some "unavoidable" burden has been passed on to the common people but "I am sure they will accept it," he told reporters after the presentation of the General Budget in the Lok Sabha.

Vajpayee said proposals in the services sector would help boost employment opportunities.

On the easing of restrictions faced by the agriculture sector, he said there would be no hurdles in free movement of foodgrains across the country and difficulties faced by farmers would be largely removed.

The prime minister said although defence expenditure has gone up, efforts would continue to be made to reduce the government expenditure.

"Steps in this regard will be taken in future," he said.

Vajpayee said reforms would continue in the agricultural, industrial and services sectors besides development of towns and cities.

"The outcome of this practical Budget will be good even though some unavoidable burden has been passed on to the common people," he added.

"The proposals to build houses and create a network of roads across the country will provide impetus to the economy," Vajpayee said.

"The facilities proposed for the service sector", he said, "will increase employment opportunities and also promote tourism".

The prime minister said it had been agreed with the state governments that there shall be no restriction on movement of agricultural goods.

He said it was feared earlier that inflation rate will go up, but despite an increase in defence expenditure, "we have tried to contain government expenditure".

PTI

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