Prime Minister of India - Dr. Manmohan Singh

PM's statement to media on the Union Budget and answers to questions

PM: The Finance Minister has done a commendable job in reconciling the short term requirements of our economy, to provide a stimulus to the growth process and simultaneously to ensure that we recapture the rhythm of the growth process despite the recessionary tendencies in the world economy. He has therefore chosen a strategy to concentrate on increasing investments in the infrastructure sector both in the public sector and in the private sector through PPP route. Simultaneously he has taken care that we spend lot more money in putting in place social safety nets, in increasing our investment outlays in rural development, agriculture, in healthcare services, in urban renewal missions. Overall the strategy of the budget is to ensure that our economy recaptures the rhythm of the accelerated growth process. Simultaneously it seeks to honour in large measure, the commitments that we have made to our people to work steadfastly for the well being of the aam aadmi.

Question on 7 % growth rate.

PM: Well, we are working towards that goal and it is achievable. 7% growth rate this year is an achievable growth target but it is not good enough for the medium term, we must move to a growth path of 8 to 9%.

Question on increased outlay for NREGA.

PM: It is very significant. It is a measure of our commitment to the well being of the poorer sections of our community.