Balanced effort to sustain growth in budget: Chidambaram
New Delhi: Home Minister P. Chidambaram Friday described the union budget as a "balanced effort" marked by a responsible judgement of the state of the economy and of the measures required "to sustain high and inclusive growth".
"Finance Minister Pranab Mukherjee`s budget for 2010-11 is a very balanced effort marked by a mature assessment of the state of the economy and of the measures required to sustain high and inclusive growth," Chidambaram said in a statement.
The home minister, who held the finance portfolio till the 26/11 terror strikes in Mumbai, said the underpinning of a budget lay in its fiscal consolidation.
"Assistance to states for modernisation of police force has been pegged at Rs.1,975 crore, a modest increase of Rs.130 crore over the actual expenditure that will be incurred in 2009-10. However, I am confident that, if necessary, we can find additional resources through re-appropriation or through supplementaries," he said.
In the union budget, Mukherjee said immigration services had been provided Rs.155 crore and the bulk of this provision (Rs.140 crore) would be spent on setting up Integrated Check Posts.
The ambitious Crime and Criminal Tracking Network and System (CCTNS) has received a generous provision of Rs.175 crore.
In his budget speech, Mukherjee said there had been a decline in violence in Jammu and Kashmir last year and the government had proposed a number of confidence building measures.
"As one more such measure, government proposes to recruit about 2,000 youth as constables in five central paramilitary forces in the year 2010," he said.
"The worst may be over and the finance minister has signaled that beginning 2010-11 we will move in the direction of reducing the fiscal deficit and revenue deficit."
"While these two indicators will remain high in 2010-11 (5.5 percent and 4.0 percent respectively), I am confident that we would be able to adhere to the road map laid down by the 13th Finance Commission," he added.
More from India
More from World
More from Sports
More from Entertaiment
- There will be earthquake if I speak on demonetisation: Rahul Gandhi
- Opposition observes 'black day' to mark one month of demonetisation
- Panel discussion over continuous chaos in Parliament on demonetisation
- Panel discussion on the decision of demonetisation
- Cashless transactions increased rapidly following note ban
- Was Rahul Gandhi smiling during Jayalalithaa's funeral? Twitter users share pictures as proof
- Yuvraj Singh-Hazel Keech Reception: MS Dhoni, Sourav Ganguly, Virender Sehwag attend lavish party — PHOTOS INSIDE
- SC asks govt if demonetisation was confidential; to judge if policy unconstitutional
- Reliance Jio effect: Airtel offers free unlimited local and STD calls with 4G data at Rs 145
- PM Narendra Modi ropes in Nandan Nilekani to boost process of digital payments post demonetisation