Budget at meltdown time is 'reasonable': CM

Given the present global economic situation, the 2010-11 Budget presented in the State Assembly on Saturday was ‘reasonable’, claimed Chief Minister K Rosaiah here.

Addressing newsmen after presenting the Budget, the Chief Minister who also holds the Finance portfolio, said the provision of necessary allocations to welfare and development sectors, especially within the framework of the global economic recession, made the Budget a reasonable one.

Despite immense pressure on the exchequer due to heavy losses incurred by droughts, floods and agitation, the state government was able to present the budget with reasonable allocations to all sectors and continue with the government’s aim of providing welfare to all sections of the State.

Rosaiah complimented the Finance Department for its efforts in preparing the budget estimates. He said the Finance Department’s primary focus was the achieving of economic growth keeping social equity as its benchmark. He said, ''The global economic slowdown had an impact on the economies of all the states much more than what we initially anticipated.''

Rosaiah said along with economic growth, they had decided to continue the focus on welfare and development activities because the growing wealth of the state has to be equitably distributed among all sections of the society.