New Delhi: Former Prime Minister Manmohan Singh, the architect of economic reforms unleashed in 1991 that took the country on a high growth trajectory, today hailed the NDA government's attempts to adhere to the fiscal deficit target set by his government for the current fiscal, but said at the same time that the budget presented today was lacking in specifics. (Arun Jaitley Seeks to Revamp UPA's Rural Employment Scheme)
"This is a budget which could have well been presented by the UPA itself and I am happy the Finance Minister is keeping to the fiscal deficit target, and hope he achieves it,'' the former Prime Minister told NDTV in his response to the first budget unveiled by the Narendra Modi government. (What You Liked and Disliked Most)
As the country's Finance Minister during the P V Narasimha Rao government, Dr Singh was credited with putting an end to the 'licensing raj', and taking the economy on the path of big-ticket reforms. He took over as the Prime Minister in 2004, and demitted office in May this year after the Congress suffered a humiliating defeat in the Lok Sabha polls, a verdict which was attributed, ironically, to a stuttering economy and spiraling prices. (Income Tax Changes Can Save You up to Rs. 36,000)
Asked whether the NDA government's inaugural budget will kick-start growth, the former Prime Minister remarked, "There is no road-map, there is nothing on specifics and, like the rail budget, there is nothing to show". (Budget 2014: The Big Announcements)
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