Prime Minister Narendra Modi on Wednesday hailed the Union Budget as the first Budget of “Amrit Kaal” that will “fulfil dreams of the aspirational society, farmers and middle class”.
In his first reaction to the Budget, Modi said the first Budget of the “Amrit Kaal” provides the foundation to fulfil the resolve for a developed India while giving priority to deprived sections of society as well. The Prime Minister said it will fulfil dreams of the aspirational society, farmers and middle class.
The middle class is a big force to fulfil dreams of a prosperous and developed India and our Government has taken many decisions to empower it, he said. “Our Government that always stood with the middle class has given huge tax relief to them,” Modi said.
The Prime Minister congratulated Sitharaman and her team for a “historic” Budget.
Citing the Budget proposals , Modi said success of digital payments has to be replicated in the agriculture sector and a scheme has been brought for laying down digital infrastructure for it. It will make cooperatives pivot of development of rural economy, he said. Modi called the traditional artisans such as carpenters, iron smiths, goldsmiths, potters, sculptors and many others as the creators of the nation.
“For the first time, the country has come up with many schemes as a tribute to the hard work and creation of these people. Arrangements have been made for training, credit and market support to them.
“PM Vishwakarma Kaushal Samman, that is, PM ViKaS will bring a big change in the lives of crores of ‘Vishwakarmas’,” Modi said. He said for the women living in the cities to villages, employed to homemakers, the Government has taken significant steps such as Jal Jeevan Mission, Ujjwala Yojna and PM Awas Yojana etc., that will further empower the welfare of women.
The Prime Minister emphasised that miracles can be performed if women self-help groups, which is a sector with extreme potential, are further strengthened. Underlining that a new dimension has been added to women self-help groups in the new Budget with the introduction of a special savings scheme, the Prime Minister said it will strengthen women especially the homemaker from common families. This Budget, the Prime Minister said, will make cooperatives a fulcrum of development of the rural economy.
The Government, he said, has come up with the world’s largest food storage scheme in the co-operative sector. An ambitious scheme to form new primary co-operatives has also been announced in the Budget, Modi said.
This will expand the area of milk and fish production along with farming, and farmers, animal husbandry and fishermen will get better prices for their produce, he said.
Noting that the world is celebrating the International Year of Millets, Modi said there are many types of millets in India with multiple names.
The Prime Minister said special recognition of millets is necessary when it is reaching households all over the world. “This superfood has been given a new identity of ‘Shree-Anna’, Modi said, as he underlined that small farmers and tribal farmers of the country will get economic support. This Budget, the Prime Minister said, will give an unprecedented expansion to green growth, green economy, green infrastructure, and green jobs, for a sustainable future.
“In the Budget, we have laid a lot of emphasis on technology and the new economy. Aspirational India of today wants modern infrastructure in every field like road, rail, metro, port, and waterways. Compared to 2014, investment in infrastructure has increased by more than 400 per cent,” Modi said. The Prime Minister said the unprecedented investment of Rs 10 lakh crores on infrastructure will give new energy and speed to India’s development.
He asserted that these investments will create new employment opportunities for the youth, thereby providing new income opportunities to a large section of the population.
In his remarks, the Prime Minister also touched upon the ease of doing business which is taken forward through the campaign of credit support and reforms for industries.
“An additional loan guarantee of Rs 2 lakh crore has been arranged for MSMEs,” he said, noting that increasing the limit of presumptive tax will help MSMEs to grow.
He also said a new arrangement has been made for timely payments by big companies to MSMEs. “I once again congratulate Nirmala ji and her entire team for this all-encompassing budget that would give speed to building a developed India,” Modi said.
The Prime Minister said in general that this year’s Budget infused new energy to India’s development trajectory.
