Finance Minister Pranab Mukherjee on  admitted that he had taken a risk while presenting the Union Budget to curb negative growth.

Speaking at the India Today State of the States Conclave, the minister also called for states to do their bit in UPA’s quest for inclusive growth.

The finance minister said that while inclusive growth was a mantra for the UPA government, collective action from the states and the Centre was required to achieve it.

Easing concerns over drought a bit, Finance Minister Pranab Mukerhjee today said the situation now is not as alarming as it initially appeared, thanks to better farm sector prospects in the wake of recent improved rainfall.

“Thanks to late monsoon, the problem (of drought) is not as alarming as it was visualised in the month of July and early part of August,” he said.