Even as outside allies, the Left parties, described the Union Budget as an election-oriented exercise, UPA chairperson Sonia Gandhi and Prime Minister Dr Manmohan Singh did not hide their excitement, hailing Finance Minister P Chidambaram for taking “revolutionary steps” in an “outstanding” Budget.

Congress’ allies in the UPA were also visibly ecstatic at the pro-people slant in the last Budget before the next General elections, praising Mr Chidambaram profusely for waiving off loans of farmers and relaxing the income tax norms.

Even as a big contingent of farmers from Haryana shepherded by party MP Deepindar Hooda descended on her 10, Janpath residence to celebrate the Budget announcements that were described by Opposition BJP as UPA’s “election manifesto”, Ms Gandhi said, “Today is a very happy occasion. The waiver of loans on farmers by the UPA government is a revolutionary step.”

“I congratulate the UPA government and Finance Minister P Chidambaram for it,” she told the gathering referring to the Rs 60,000-crore relief package for farmers that includes complete waiver of loans worth Rs 50,000 crore given to small and marginal farmers.

The Haryana farmers created a festive atmosphere in front of Ms Gandhi’s residence, liberally using Holi colours and indulging in a lot of singing and dancing with senior Congress leaders trooping into the nearby AICC headquarters to soak in the celebratory mood.

Leaders in Congress were of the view that the Budget would set the momentum towards creating a pro-party mood in the country, running into the spate of Assembly elections followed by the General elections. “We will have to sustain this mood,” one senior AICC leader said.

Dr Singh also praised the Budget as “excellent and outstanding” and said Mr Chidambaram had lived upto his reputation particularly because of the loan waiver. “Considering the amount of depression that prevails in the agriculture sector, this is the response mechanism that is fully justified,” he said.

“There is a growing farming distress. We keep talking about the animal spirits of businessmen. But I think the farmers are the biggest businessmen of our country. They produce essential commodities required by us. If their animal spirits are depressed, it is not good for the country,” he said.

“I sincerely believe the government has been generous in its response. It is an unorthodox response. But considering the amount of depression that prevails in the agriculture sector, this is a response mechanism that is justified,” he said.

“The Finance Minister has kept the fiscal and revenue deficit under control and ensured that if some adverse wind blows from outside the country it does not impinge on our growth process,” he said, adding that the priority of the UPA government would be to sustain the growth process and ensure that its rhythm was is not interfered with.

Dr Singh assured that his government would strive to maintain price stability and ensure that its flagship programmes were adequately funded. “A lot more jobs will be created in the next few years,” he said.

Praise for Mr Chidambaram came in from the allies too, with RJD leader and Rural Development Minister Raghuvansh Prasad Singh calling the Budget pro-poor. “The Finance Minister clearly said that greater the demand for jobs, greater would be the funds released for NREGA,” he said, even as LJP leader and Steel and Chemicals & Fertilizers Minister Ram Vilas Paswan termed it the best Budget till date.