Replying to a debate on the general budget for 2004-05 in the Lok Sabha, he said the verdict was a 'complex' mandate to take another look at the reforms process and on the people who had been left behind so far.

"The electoral mandate we have got also requires me to revisit some of the priorities of the reforms and rearrange the priorities in which people will be taken as a key resource in national economic activity," he said.

Terming NCMP as a policy road map for five years, Chidambaram said this would address the concerns of all allies and supporting parties.

He said investment in agriculture, industry and services was the key to maximise income and welfare to provide employment opportunities and asserted the government was committed to improving the delivery mechanism.

Chiding the BJP-led opposition for not reconciling to the electoral mandate, he said the NDA had expected to be back in power while some in the ruling UPA were sceptical of forming the government.

On the task laid down in the NCMP, Chidambaram said government's endeavour was to lay greater emphasis on education, health, nutritious schemes, drinking water and PDS especially for the people below the poverty line.

Identifying people of the country as major resources, he said the programme of the government would be aimed at improving the lot of people.

Chidambaram said that the budget has given a major focus to agriculture with particular emphasis on credit. "If we can raise the credit from Rs 80,000 crore from this year to Rs 1,00,500 crore then there would be great increase in production", he said.

He said the accelerated irrigation programme and the watershed programmes were designed to improve conditions in rural areas in areas of water suply and irrigation.

A major initiative in agriculture, he said, was the income tax exemption under 80-IB section for agro-business which was being done for the first time. A distinction is sought between Agri and Non-Agri business.

The minister said the programme for restoration of water bodies being taken up on a Pilot basis in five districts would be under scrutiny for a considerable time so that depending on its success it could be extended to other places.

Asserting that agriculture would remain at the ‘center stage’, Chidambaram said there was a need for making the farm sector ‘monsoon proof’ through well-designed irrigation and water harvesting schemes.

He said economic growth had been less than five per cent during the three years 1997-98, 2000-01 and 2002-03 -- when agriculture sector performance was badly affected by monsoon.

The minister said whenever agriculture sector performed well, the economic growth was higher.

He regretted there was a stagnation in agricultural investment which, he said, remained at 1.3 per cent of the GDP during the NDA regime. "I am trying to find out the fault", he quipped.

The Finance Minister expressed concern over the divide between rural and urban sectors in terms of both consumer spending and education.