Govt. to insulate economy from global crisis, says Pranab

Govt. to insulate economy from global crisis, says Pranab
The Financial Express, May 23, 2009, Page 2

Press Trust of India

The priority before the new government would be bringing the economy back on rail while insulating it from the impact of the global financial crisis, senior most Cabinet minister Pranab Mukherjee said on Friday. “Of course, we shall have to prioritise. The economy has to be brought back on rail...(we have) to insulate (the economy) from adverse effect of financial crisis,” he told reporters at his residence after the swearing-in ceremony.

Mukherjee is tipped to get the much sought after finance portfolio.

All the economic matters will receive due attention of the government, Mukherjee said, adding that the new government will present the Budget for 2009-10 in due course.

The Congress manifesto has promised to present the Budget within 45 days of government formation. The interim budget passed earlier enabled the government to run its expenditure till July 31 only. On pending financial sector reforms like pension, banking and insurance reforms, the minister said, “I am not going to make any comment on any policy statement... Let the portfolios be announced formally. After that I will have a full-fledged observation of various aspects.”