Describing the Union Budget 2023-24 as a unique roadmap for the development of the country, Finance Minister Jagdish Deora said that this budget is the budget of the liking of the common citizens who are dreaming of making India the best country in the world under the leadership of Prime Minister Narendra Modi.
He said that this budget is a budget that will use youth power in building a glorious India. He greeted Union Finance Minister Nirmala Sitharaman for a very creative and historic budget.
Describing the provisions made in the Union Budget as historic, Finance Minister Deora said that now the golden period of the agriculture sector is about to come. The move to make India the global hub of millets is a very creative initiative. This will pave the way for the economic prosperity of the poor farmers.
States like Madhya Pradesh will be benefitted by the establishment of Agriculture Accelerating Fund. Under the leadership of Chief Minister Shivraj Singh Chouhan, entrepreneurship is being encouraged in the agriculture sector. This step will encourage startups in agriculture sector in Madhya Pradesh.
Finance Minister Deora said that while respecting the power of women, the Central government has given a big gift to women and welcomed the announcement of launching Mahila Samman Bachat Patra Yojana. In this, women will get 7.5 percent interest on savings of Rs 2 lakh.
The Finance Minister termed the move to encourage states to open libraries at the panchayat level as historic and said that the establishment of the National Digital Library for Children and Adolescents would help in strengthening the foundation of the culture of reading in the rural areas of Madhya Pradesh.
Deora said that the economic scenario of Madhya Pradesh will improve rapidly with the budget provisions made for infrastructure and investment. He said that the step of increasing the capital investment expenditure to Rs 10 lakh crore and continuing interest-free loans to the state governments for 50 years to increase infrastructure investment is unique and in public interest. This will also boost the possibilities of employment generation.
Hailing the launch of the third phase of e-courts, the Finance Minister said that the e-courts project started in Madhya Pradesh has been acclaimed as an ideal model in the country. This step will benefit Madhya Pradesh. He said that taking forward "One-District-One-Product" the States would be benefitted by setting up Unity Goods. There are lots of possibilities for this in Madhya Pradesh. Now with the institutional arrangements, all the districts will have their own identity and the beneficiaries including manufacturers will get benefits.
Finance Minister Deora said that this budget is important from the point of view of fiscal management. Fiscal deficit has been kept at 3.5 per cent of GSDP. This will help fast progressing states like Madhya Pradesh to improve in various areas of development. In relation to taxes, the common taxpayer citizens have got a lot of relief.
By hiking the income limit from 5 lakh to 7 lakh for income tax exemption, the Central government has done the work of providing relief to the citizens. The new tax regime of standard deduction benefit will prove useful for salaried and pensioner category taxpayers. Apart from this, relief has been provided by simplifying the tax benefits available to the industries. Startups will benefit from this.