Bengaluru, Feb 3 (IANS): Former Karnataka Chief Minister Basavaraj Bommai on Friday said that the economic progress of the country in the last 10 years was "clearly mentioned" in the Interim Budget presented on Thursday by Finance Minister Nirmala Sitharaman, adding the Interim Budget aimed at the development of the country.

He told reporters here on Friday that the country was in deep economic crisis in 2014 and at that time, Prime Minister Narendra Modi brought stability to the country's economy due to his vision.

"The inflation which was in double digits in 2013-14, has been brought down to around 4.5 per cent now. This has reduced the burden on the common people," he said.

He said the country has maintained progress of 7 per cent in the last decade and PM Modi's efforts to uplift the people from poverty have yielded results.

The BJP-led NDA government has partnered with the last man in society in the economic progress through the welfare schemes such as Awas, Mudra and swach Bharat, the former Karnataka CM said.

"The FDI has increased and productivity has increased and the agriculture sector has developed. The service sector has seen the double productivity. Financial discipline was maintained despite all these achievements.

"Earmarking Rs 1.5 lakh crore for infrastructure development in the interim budget would be of great help to build a 'Vikasit Bharat'. It would also help in building national highways, railway and airports in big scale. There has been no burden on the common man and income tax has been exempted to income up to Rs 7 lakh and this would benefit the employees a lot," he said.

Bommai said that sufficient funds have been provided for welfare schemes.

"In total, the Interim budget is a positive and development-oriented budget," he added.