Budget shows strength of economy: Qarra

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Jammu, March 1:: Welcoming the measures announced in the Union Budget 2008-09, Jammu and Kashmir Finance Minister Tariq Hamid Qarra today said it demonstrates the strength of the Indian economy.

"The union budget demonstrates the strength of Indian economy- with forex reserves touching USD eight billion and buoyancy in the tax revenues and above all lower fiscal deficit. We welcome it," Qarra told reporters here.

The historic decision of bringing in a comprehensive scheme of debt waiver of Rs 60,000 crores for the small and marginal farmers indicates the resolve and commitment of the Centre's UPA government to take up the challenges of agriculture indebtedness.

The emphasis on financial inclusion through the self help group route will hopefully lead to higher rural productivity and income, Qarra said.

Allocation of over Rs 5,500 crore for Rajiv Gandhi Vidyutikaran Yogna and Rs 13,000 crore for national highways development programme will help our state in implementing the infrastructure development with renewed vigour, he said.

"I am personally impressed by the idea to implement a skill development programme under a mission mode," he added.

The need for upgrading skills has become more acute in the context of the growing demands of industry trade and business, Qarra said.