New Delhi: Prime Minister Manmohan Singh on Thursday appreciated the Union Budget and said Finance Minister P Chidambaram had done a "commendable" job.

"The Finance Minister has done a commendable job in containing the deficit while simultaneously addressing the growth imperatives," Manmohan Singh said. "We need to create 10 million jobs a year for the duration of the 12th Plan which can be achieved only if we reach eight percent GDP growth level," he added.

The Prime Minister further said that Chidambaram has laid out a roadmap with regard to investments. “Inflation, fiscal deficit, current account deficit are three basic challenges to economy; need multi-pronged strategy to tackle them,” Singh said.

“The Finance Minister has taken important steps to reverse pessimistic mood with regard to our economy,” he said.


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