Rs 1,000 crore allotted for enhancing skills of youth: Budget 2013

budget-literacyIn an attempt to cheer the youth of the country, Finance Minister P Chidambaram in his budget 2013 speech announced allotting Rs 1,000 crore to expand their skills.

“Skill training will be given to boost employment and productivity,” Chidambaram said. “10 lakh youth can be motivated in one year,” he added. Union Budget’s overarching goal is to create opportunities for our youth, Chidambaram said.

Chidambaram started his speech by reiterating the resolve of his government to cut expenditure and bring the Current Account Deficit back on track. He also pointed out how India is still the third fastest growing economy amongst the bigger countries.

As the speech progressed, the FM went on to reiterate UPA’s pet goal of inclusive development. he subsequently announced many schemes & allocations for SC, ST, women, differently-abled and other schemes such as Sarv Shiksha Abhiyan & provided additional allocation for the food security plan.

Presenting his eighth Union Budget, Chidambaram in his budget 2013 speech gave emphasis to the need for ‘inclusive growth’. The budget will focus on higher growth and financial inclusion, he said.

“Many people will be left behind if we do not pay attention to growth,” he said. Chidambaram said that any growth should also be sustainable.

Chidambaram acknowledged that the room for a fiscal stimulus is constrained and that deficit levels are high. (Source:ET)

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