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A difficult job well done
The Financial Express - 01 Mar 2013

Mr. Y C Deveshwar

The passion, sincerity and commitment exuded by the finance minister in  managing difficult economic circumstances will definitely go a long way in  bolstering confidence in the economy. The proposals represent a 360-degree  intervention for stimulating growth in all sectors of the economy while  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 move to enhance  allocation for rural development, including integrated watershed programmes,  crop diversification programmes and nutri-farms as well as creation of a  national livestock mission, will go a long way in creating rural sustainable  livelihoods.

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 is forward-looking  and 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.