Lord Paul hails India's pro-poor budget

LONDON: Lauding as "good" the Indian budget for fiscal 2009-10, leading NRI industrialist Lord Swraj Paul said it would help raise people out of poverty besides ensuring jobs and rural development.

Congratulating Finance Minister Pranab Mukherjee, Lord Paul said he was happy that the budget "is attending to food security, jobs and rural development which are all most important."

Lord Paul, Britain's Ambassador for Overseas Business and recently appointed member of the Privy Council, said "it is a good budget."

"I would like to congratulate the Finance Minister for first accepting the reality that India is also affected by the credit crunch and the world financial crisis, and second for helping to raise people out of poverty and recognising that without raising the standard of living for all the people in the country India can't make progress," he said.

"So I am pleased to see the budget is attending to food security, jobs and rural development which are all most important," Lord Paul said.