Mar 16, 2012 at 04:12pm IST

Budget 2012: When time comes, we have to bite the bullet, says PM

New Delhi: Prime Minister Manmohan Singh on Friday applauded the Budget presented by Finance Minister Pranab Mukherjee. "The Budget aims at faster, equitable, sustainable and more inclusive growth," he said in an interview with Swaminathan Aiye.

"The Finance Minister has been able to address the twin tasks of checking inflation and accelerating growth," the Prime Minister added.

Talking about controlling subsidies, Manmohan Singh said, "The Finance Minister has said that subsidies would be reduced, it is a task that requires the government to put forward a policy to adjust. There will be difficulties, but if the government has to govern, when the time comes, we have to bite the bullet on controlling subsidies."

The Prime Minister said that even though the growth rate has slipped, it has been an achievement for India to have kept it better than other countries. "The challenge is to get the growth back upwards," he further added.

When asked whether coalition politics affects decision making, the Prime Minister said, "There are compulsions in a coalition, but then the government will have to take decision that could be tough, but good for the economy. If the government has to govern, it must have a sustainable policy. I am confident that when there is a critical time, we will be able to keep all our allies on board."