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| Qarra hails Union Budget | | Describes it people friendly, growth oriented | | Early Times Reporter
Jammu | Feb 29
Finance Minister, Tariq Hameed Karra has welcomed the measures announced by the Union Finance Minister P Chidambaram in his budget speech in the Lok-Saba today.
In a statement issued here today, Karra said the union budget demonstrates the strength of Indian economy - with GDP over 9%, forex reserves touching 8 billion dollars and buoyancy in the tax revenues and above all lower fiscal deficit. The historic decision of bringing in, a comprehensive scheme of debt waiver of Rs 60000 cores for the small & marginal farmers indicates the resolve and commitment of the UPA Government headed by Dr. Man Mohan Singh to adhere to the challenges of agriculture indebtedness.
The other initiatives of stepping up of credit to agriculture sector (20,80,000 crores), RIDF - XIII of Rs. 4000 crores, strengthen of credit of Cooperative institutions on the basis of recommendations of Vydianathan Committee which will provide much impetus to agriculture growth are very welcome steps which always had been a matter of concern.
The emphasis on financial inclusion through the self help group route will hopefully lead to higher rural productivity and income.
Allocation of over Rs.5500 crores for Rajiv Gandhi Vidyutikarn yogna and Rs. 13000 crores for National Highways Development program will help our State in implementing the infrastructure development with renewed vigour.
I am personally impressed by the idea of the Hon'ble union Finance Minister to implement a skill development program under a mission mode.
The need for skill upgradation has become more acute in the context of concept growing demands of industry trade and business.
The Finance Minister has also displayed tremendous sensitivity to social security needs and concerns of the informal sector, be it the Health insurance schemes for weavers in mega clusters or Aam Admin Bima Yojna or the Rashtriya Swasthya Bima Yojna. Higher allocation will lead to expansion in coverage with qualitative gains.
In the Budget proposal the increase in the limit of income tax exemption is a welcome step as it as given relief to the service class.
On the whole, it is a Budget that looks at both the aspects generating incomes and wealth and equitable distribution of gains. It is symbolic of a growing and developing Indian economy with special commitment of the rural and agro based population. In a way the attempt has been made to combine growth with equity and blend modernization with traditional livelihoods. |
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