I never thought I’d say this – having sat through the now historic budget speech of the ‘golden summer of 1991’ that I would ever feel this way again.
Thank you, Mr. Chidambaram, for a very Indian budget.
Here’s the snippet from the full speech on The Hindu’s website:
185. Mr. Speaker, Sir, our human and gender development indices are low
not because of high growth but because growth is not high enough. Faster
economic growth has given us, once again, the opportunity to unfurl the
sails and catch the wind. Without growth, I could not have given a new
thrust to agriculture. I could not have given relief to the small tax
payer, the small service provider and to small scale industry. I could
not have promised 100,000 scholarships or 100,000 jobs for the
physically challenged. I could not have promised a massive ground water
recharge programme or social security for rural landless households.
186. The UPA Government has delivered on the promise of savings and
investment, and will deliver on the promise of encouraging more savings
and translating the savings into more investment. It has delivered on
the promise of growth, and will deliver on the promise of making growth
more inclusive. I believe that, given a right mix of policies, the poor
will benefit from growth that is driven by savings and investment and
that is more inclusive. As Dr. Muhammad Yunus, the Nobel laureate,
said, "Faster growth rate is essential for faster reduction in poverty.
There is no other trick to it."
187. Sir, with these words, I commend the Budget to the House.