Daijiworld Media Network- Mangalore (KM/NR)
Pics: Dayananda Kukkaje

Mangalore, Mar 22: 'Giving a fillip to the Indian economy and taking on challenges and transforming them into opportunities are the primary concerns of the Union Budget 2008,' declared Dr M Veerappa Moily, chairman of the Union Administrative Reforms Commission.
 
Veerappa Moily was presenting a detailed analysis of the railway budget (central and state) organized by the Kanara Chamber of Commerce and Industry (KCCI), held at Shanthi Nilaya in Balmatta here on Friday, March 21.

The Union Budget 2008 is not a preparation for the impending polls as it is generally considered, rather it is an honest attempt to make the best of available resources, to enable the economy of the nation to withstand any pressure. In short, it is an attempt to prevent the occurence of 'Tsunami' in our economy, he clarified citing a metaphor.

Hailing the union budget as good on the whole, he pointed out that no sector has been neglected. 'The union government strongly believes that a budget must not just be a heap of accounts, rather it should be one providing solutions to the problems faced by people,' he informed. 
 
With special reference to two extreme criticisms levelled against the budget, Dr Moily opined that waiving farmer's loan is a panacea to the agrarian crisis, as it addresses the crisis at its root level such as farmers' suicide. According to him this budget tabled by the union government basically strives to enhance social and physical infrastructure.
 
Defending his argument that the budget protects the interests of the Indian market and economy, Moily informed that the proposals and policies in the budget strengthen the roots of economy, thereby will successfully avert the sensex from collapsing.
 
Moreover, he opined that the union budget was not defined by imitation but rather distinguished by innovation and mission to sustain the economy and leave no stone unturned to make the Indian economy a model for the rest of the world, especially the developing countries.
 
Achieving a higher growth, controlling inflation and avoiding an imitation of the US model are also some of the objectives of the Union budget 2008, he concluded.
 
The other office bearers of KCCI and general public were present on the occasion.