The Congress-led alliance will give top priority to rural India and will pursue a policy that allocates more resources to agriculture. The party is also prepared to iron out its differences with allies through a common minimum programme on economic issues.

Manmohan Singh, who is tipped to take over as finance minister in the new government, told Business Standard: "Focus on agriculture is sensible politics."

India Votes 2004

He played down the party's differences with the Left on key reform areas like divestment and said, "We have explained our position in our manifesto. Now, we will sit down with our coalition partners to work out the details."

Senior Congress leader Pranab Mukherjee said that investment in agriculture would be stepped up. In the context of World Trade Organisation, the government had to ensure that the farmers did not lose out.

When asked how the Congress would reconcile the differences with the Left on key economic issues, Mukherjee said, "If we had formed the government on our own, we could have stuck to our economic manifesto. When a government is formed with the support of other parties, there has to be a common minimum acceptable programme."

Former finance minister P Chidambaram, whose party had a pre-poll alliance with the Congress, dispelled fears that reforms could be stalled.

He told Business Standard, "The Congress is the originator of reforms. There is no reason to believe that it will dilute reforms. I am certain the Congress will continue to pursue reforms and there is no reason for foreign investors to fear on this count."