Balanced budget will promote inclusive growth: P Chidambaram

Terming the budget as "good" and "balanced", Union home minister P Chidambaram today said it will promote inclusive growth and the projected increase in revenues will be used for augmenting investment in health, education and security sectors.

"The finance minister has focused on high growth; on investing in, incentivising and increasing agricultural production in order to moderate inflation; and on fiscal consolidation," Chidambaram said in a statement released after the budget presentation by finance minister Pranab Mukaherjee.

The home minister, who used to hold the portfolio till November 2008, said Mukherjee has used the projected increase in revenues for augmenting investment and for larger outlays on education, health and security.

"We are very happy and I compliment the finance minister on presenting a good and balanced budget that will promote inclusive growth," he said.