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Return to Main Page of Budget 2004-2005

Indian Budget 2004-05
Full Text of P. Chidambaram, Minister of Finance, Budget Speech(July 8, 2004)


20. Before I deal with other areas of concern on which the Budget will have an impact, let me give you a snapshot of the goals that I have set for myself :

Doubling agricultural credit in three years, accelerating the completion of irrigation projects and investing in rural infrastructure;

Providing farm insurance and livestock insurance;

Improving agricultural product markets, and promoting agri-businesses;

Drinking water for all;

Expanding water harvesting, watershed development and minor- irrigation and micro-irrigation schemes;

Enhancing investment in industry public and private, domestic and foreign to create new jobs;

Creating space for small-scale industry to thrive and grow;

Electricity for all;

Universal access to telecommunication facilities;

More housing for the poor;

Access to medical care through health insurance; and

Encouraging savings, and protecting the savings of senior citizens;

21. I believe that the key to growth is investment public and private, domestic and foreign. It is therefore my intention to considerably enhance investment in all sectors of the economy. However, fiscal prudence and financial discipline will remain the overarching objective. I shall also take into account the availability of resources and the absorptive capacity of various sectors.

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