"He has done an outstanding job and worked very hard to produce a Budget which measures up to the challenges of our time.
He deserves all the credit," Singh told Doordarshan.
Singh said the newly-announced 'Bharat Nirman' scheme would change the face of rural India and the Centre would work with state governments to make life in villages "liveable".
"There must be close cooperation between Centre and the states. The effort will be to work with state Governments to make rural life liveable. When 1 crore hectare comes under irrigation, it will change the face of rural India beyond recognition," he said.
The Prime Minister said the focus would be on infrastructure development and telephone connectivity in rural areas.
On Chidambaram's proposal to impose a 0.01 per cent tax on withdrawal from banks of Rs 10,000 in one day, Singh said "I think it is a tax which is not going to impose unnecessary burden on the common man."