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Budget reflects govt faith in growth: Chidambaram
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February 16, 2009 14:42 IST

Terming the Interim Budget as a reflection of government's faith in 'faster and more inclusive growth', home minister P Chidambaram said the focus brought about unprecedented development since 2004-05 and helped in navigating the current global slowdown.

Complimenting external affairs minister Pranab Mukherjee, who also holds the charge of finance ministry, for the budget, Chidambaram said, "He (Mukherjee) had before him an unenviable task having to present an interim budget at the end of a difficult year caused by a global financial crisis.

"It is, however, a matter of satisfaction that the Indian economy has weathered the global crisis reasonably well and is expected to post a growth rate of 7.1 per cent in 2008-09," Chidambaram, who was shifted from finance to home in November last year following 26/11 Mumbai strikes, said.

Mukherjee's budget speech 'captures the exciting story of growth over the first four years of the United Progressive Alliance government, the determination and resilience with which the government has navigated the current difficult year; and, above all, the confidence and the can-do spirit with which we can look forward to the future," Chidambaram said.

Though the Interim Budget will 'necessarily undergo change' in the regular budget, he said, "What is noteworthy is that the UPA government continues to repose faith in its policy of faster and more inclusive growth, a policy that has brought unprecedented development and a marked rise in welfare of all sections of the society since 2004-05".

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