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Economy in safe hands
The Hindu Business Line - 01 Mar 2013

Mr. Y C Deveshwar

The commitment  exuded by the Finance Minister in managing difficult economic circumstances  will go a long way in bolstering confidence in the economy. The proposals  represent a 360{+o} intervention for stimulating growth in all sectors of the  economy whilst fostering social equity and inclusion. Of particular note are  the measures announced towards promoting financial inclusion and deepening  savings through access to insurance in smaller towns and inflation indexed  savings instruments. The measures to promote and attract industrial investment  through an investment allowance scheme valid for the next two years will spur  prompt action to stimulate capital formation in the economy. The move to  mobilise funds in the infrastructure sector will also provide a strong driver  to support growth. The special focus to promote and incentivise skill  development amongst youth will be critical in fuelling sustainable and  inclusive growth. The Finance Minister, while delivering the Budget proposals,  demonstrated immense confidence that he was equal to the challenge in turning  around the economy and gave comfort that the economy was indeed in safe hands.