Even as Finance Minister P Chidambaram tabled the Union Budget for 2007-08 in the Lok Sabha, news trickled in about the Indian economy having grown at 8.6 per cent in the third quarter of the current financial year.

This year's Budget, which stresses on the farm sector, announced a number of proposals to perk up agriculture. The Government plans to bring in five million farmers into the banking system during the present fiscal year.

Prime Minister Manmohan Singh said the prime focus of the recent budget was on education and healthcare, as he reaffirmed his Government's commitment on increasing spending on the social infrastructure.

Highlights:

• Manufacturing growth rate estimated at 11.3 per cent.
• 9.2 per cent GDP growth rate estimated in 2006-07. Average growth for last three years is 8.6 per cent.
• Saving rate of 32.4 per cent, investment rate of 33.8 per cent will continue.
• Average inflation in FY '07 to be 5.2-5.4 per cent; confident of managing inflation, says Finance Minister P Chidambaram.
• Bank credit rate grew by 29 per cent during first ten months of 2006-07.
• Inflation during 2006-07 estimated at between 5.2 and 5.4 per cent against 4.4 per cent during the previous year.
• A number of proposals to perk up agriculture to be announced.
• Additional irrigation potential of 24,00,000 hectares to be implemented, including 900,000 hectares under Accelerated Irrigation Benefit Programme.
• Economy in a stronger position than ever before.
• 15,054 villages have been covered under rural telephony and efforts to be made to complete the target of covering 20,000 villages by 2006-07.