France's lower house of parliament on Tuesday passed a confidence vote to the reshuffled Socialist government headed by newly-appointed Prime Minister Manuel Valls.

It was approved with 304 ballots against 239 in the National Assembly, where Valls' socialists has had a comfortable majority since June 2012.

The passage of the confidence vote paved the way for Valls' cabinet to fulfill pledges of promoting economy, curbing unemployment and improving social welfare.

Valls has vowed to expand growth and trim the double-digit jobless rate to reverse slumping approval of the government's policy.

After a 47-minute-speech, Valls detailed the government political, economic and social plans over the next three years, confirming a 30-billion-euro (41.39-billion-US dollar) cut in labor costs and proposing reduced tax for low-income households.

"Of course we must straighten up our public finances but not by destroying our social model or our public services," said Valls. "I am for respecting our commitments, for budget responsibility, not for austerity," the minister said.

With a 15-billion-euro-reduction in public spending this year, the government forecast the 2014 deficit at 82.2 billion euros (113.35 billion dollars), or 3.6 percent of the country's GDP, as promised by the government last year.

In a recent report, the European Commission warned France that it would miss budget deficit reduction target unless it takes action.

In 2013, the eurozone's second largest economy was given two extra years to bring its budget deficit below the EU ceiling of 3 percent of GDP.