Finance Minister Pranab Mukherjee said the government would make it a priority to reach 9% gross domestic product growth in the medium term and would seek to spend 9% of GDP on infrastructure development by 2014. Budget release was heavy on spending for farmers and the poor, a core constituency of the Congress party-led ruling coalition, funded by a surge in borrowing and an increase in the fiscal deficit to 6.8 percent of GDP.
Read about the youngest minister in Prime Minister Manmohan Singh’s Cabinet. At a young age of 27 she is a lawyer, environmentalist and also amateur photographer
Latest expansion of ministry by Prime Minister Dr. Singh has several young faces. As many as seven lawmakers below the age of 40 found a place in the council of ministers. Besides Jyotiraditya Scindia and Jitin Prasada, the young ministers include Sachin Pilot, Prateek Prakashbapu Patil, Arun Yadav and Agatha Sangma, who is 28 years old.
Now that the election results are out, Financial Times opinion at FT.com list the meaning of surprising strong showing by Congress. The article notes 7 lessons that can be learnt from this election results. I will note 3 that are relevant here.