RTTNews - Indian Prime Minister Manmohan Singh said that the Finance Minister has given priority to short-term needs and medium-term goals in his budget for aam aadmi, reported the Economic Times. He also added that top most priority has been given to overcome the impact of the global economic scenario. The prime minister said that the need of the hour to strengthen infrastructure investment in the public and private sectors is well addressed through PPP mode and the budget seeks to carry forward inclusive growth.

While reacting to divestment of public sector undertakings, Dr. Singh said that it is dependent on the prevailing market scenario and the finance minister has committed the government to increased divestment, while also retaining the public sector character of public enterprises.

The Prime Minister said that the markets have reacted to the higher fiscal deficit. He also stated that the time frame in which Fiscal Responsibility and Budget Management could be achieved has not been mentioned. He added that the government has sought advice of the Finance Commission that would report to the government in October. Then the government will come out with its strategies to tame fiscal deficit.

Dr. Singh said that the budget envisioned providing basic amenities for poorer section and a slum-free India commitment is also taken into account. While referring to the Food Security Act, the prime minister said that the government will come out with a draft as early as possible and invite large-scale discussions with interested groups, civil society and other groups.

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