Budget 2012-13: Pranab Mukherjee's first exclusive interview after the Budget speech
16 Mar 2012
Shortly after presenting Budget 2012-13, finance minister Pranab Mukherjee spoke to CNBC-TV18's Siddharth Zarabi about the constraints under which this exercise was taken.
In a candid interview, Mukherjee spoke about the latest political development that happened too close to the big event, uncertain global scenario and impediments in the domestic economy.
CNBC-TV18 shares its excusive post-Budget interview with domain-b
The overall climate that we have seen in the past few days - the difficult circumstances that you have faced on the economy both domestically and internationally as well as the political climate having soured over the past few weeks and days - must have made your task very difficult.
The latest political development has happened suddenly. By that time, the exercise was over. But the other issue, which you have raised, is important. The overall global situation and domestic situation are not very conducive.
While formulating my Budget proposals, I had to take into account three major areas. One, how to bring back the economy on higher growth trajectory was the primary consideration. Second, how to moderate the near double-digit headline inflation, which doggedly pursued (the) Indian economy for almost two years.
Third, the fiscal consolidation, which I believe is absolutely imperative to ensure higher and inclusive growth. We cannot allow fiscal profligacy. Therefore, these are the three major constraints which we had to keep in mind, while formulating the Budget proposals.
