Finance Minister P Chidambaram said he will promote investment in agriculture and manufacturing. This would be the key to economic growth, jobs and income. He, however, admitted that the level of fiscal deficit was an area of concern, which needed careful attention. "We will find money for public investment. At the same time, we are bound by the Fiscal Responsibility and Budget Management Act," he said. The FRBM Act, with some minor corrections, would help in achieving the twin objectives, he said.Addressing the media after taking charge at North Block and an hour-long meeting with his top secretaries, Chidambaram said: "I have reason to believe that the economy is in a resilient mode, in terms of growth, balance of payments, and inflation. There is great scope for consolidating the growth momentum with special emphasis on agriculture, manufacturing and employment."He said new economic measures might not wait for the regular Budget. "All governments have announced measures before the Budget," he said. The Budget session was expected to start after a short session of Parliament (June 2-10), followed by a short recess, he said. "There will be a full Budget and no vote-on-account," Chidambaram said.When asked if the Congress-led coalition would continue with the reforms process, the minister said, "Continuity is pretty clear as we are going back to the original reforms of Manmohan Singh. The change is in the political reality. We were not in power and have now come back. We will factor in the experience gained during the period into our economic reform programme," Chidambaram.On his rapport with Prime Minister Manmohan Singh, the finance minister said, "I have worked with Dr Singh before when I was commerce minister and he was finance minister. It is a privilege to work as his finance minister."When asked if the ministry would probe the sharp 800 point fall in the Sensex recently, the minister said the media had reported that the Securities and Exchange Board of India (Sebi) was already looking at it. "I expect to talk to Sebi Chairman GN Bajpai in the next couple of days," he said. To another query if a voluntary disclosure of income scheme (VDIS) would be announced again, he quipped, "Do you have a personal stake?"Responding to a question if the finance ministry would continue with the India Shining campaign, Chidambaram said, "We want India to shine. That is an aspirational statement. But it should shine for all Indians." Taking a dig at the earlier government's campaign, Chidambaram said, "To declare India is shining, was in my humble view, mocking the poor of India," adding that the poorer section has protested against such a campaign by voting the National Democratic Alliance out of power.He said the United Progressive Alliance (UPA) would make India shine through good economics, good politics and hard work. "I promise good economics and hard work," Chidambaram said, and added that the UPA would also bring good and sound politics. When asked about his priority areas, he said, all areas would get his attention. There were enough hours in the day to address all the issues, he added. The promises made in the Common Minimum Programme (CMP) would be met, Chidambaram said. "The CMP will be revealed to the people. It will enthuse all sections of the people. We will strive to make the Indian economy a stronger economy and better the lives of the people," he said.
