New Delhi, Mar 11 (KNN)Finance Minister P Chidambaram has announced a 15 per cent investment allowance to boost the manufacturing sector.
“The Budget focussed on infrastructure investment to restart the growth engine and it has addressed divergent constraints in this regard,” he said, addressing the customary post-Budget meeting of the Central Board of the Reserve Bank of India here recently.
In addition, “to protect savings from inflation, especially those of the poor and middle classes, the Budget has announced various measures including the introduction of inflation indexed bonds,” Chidambaram added.
He hoped that these measures would incentivise the household sector to save in financial instruments rather than purchase gold.
The Finance Minister also talked about the fiscal consolidation road-map proposed in the Budget which will promote foreign investment and support the domestic economy.
"It is expected that the move towards fiscal consolidation will impart confidence in the economy, support domestic and foreign investments and will boost supply side initiatives," he said. 
Reiterating the Government’s commitment to lowering the fiscal deficit, Chidambaram indicated that the Union Budget 2013-14, presented against the backdrop of a slowdown in both global and domestic economic growth, was expectedto lay the foundation for a sustainable re-balancing of government finances.  (KNN/Gunja)