PM Is Happy With New Indian Budget

The budget for 2011-12 as an effort to control inflation and ensure sustained and inclusive growth, Prime Minister Manmohan Singh Monday said Finance Minister Pranab Mukherjee has "done a good job".

"The finance minister deserves congratulations for maintaining a high growth rate despite the adverse international economic climate," Manmohan Singh said in an interview "This is a budget that matches the challenges our economy faces – sustained growth, inclusive growth, equitable growth – and thus, a determined effort to curb inflation," Manmohan Singh said.

The prime minister did not agree with the observation that there was not much for the corporate sector in the budget. He said there was "quite a lot in the budget" for the corporate and to attract investment.

Asked why there was no official pardon scheme to unearth black money, the prime minister said such schemes had not succeeded in the past.

"I don’t think they have succeeded as a permanent cure for black money. We need to have a systems’ reform in a holistic manner to deal with this menace," he said.

"Budget was aimed at consolidation of fiscal deficit and moderation of taxes and will meet the challenges of the economic growth of the country."

To a query on why there was no increase in the income tax exemption limit for women, the prime minister said: "You cannot please all the people. The finance minister has done as good a job as possible.

"This is the budget which meets all the challenges of our economy and polity face in the next fiscal year," Manmohan Singh said.

Article viewed at: Oye! Times at www.oyetimes.com