Hailing the Union Budget presented by Finance Minister Nirmala Sitharaman as “visionary”, the BJP and the Union Government onFriday affirmed that it would revive growth and rejuvenate economy.
BJP president JP Nadda welcomed the Budget as “visionary, futuristic, growth oriented, transformative and all-inclusive” and said it will ensure development of all sections of society.
He said the Budget gives impetus to fulfilment of aspirations of the middle income groups with focus on home for all by giving subsidy to first time buyers and announcing relaxation in income tax. The BJP chief praised Budget’s emphasis on the development of Scheduled Castes and Scheduled Tribes.
“Inspired by the mantra of ‘Sabka Saath, Sabka Vikas, Sabka Vishwas’, the Central Budget 2020 is a significant step in the strengthening the efforts towards a new and developed India. My heartfelt gratitude to Prime Minister Narendra Modi and the Finance Minister for this transformative and holistic Budget,” Nadda tweeted.
The BJP president said Modi has ensured all-round development of all sections of society and Budget 2020 is a testimony of his vision for “New India”.
Union Minister of Commerce & Industry Piyush Goyal who had also presented Union Budget in the past praised part disinvestment in the PSU behemoth Life Insurance Company saying the step would increase transparency and accountability.
“If a small part of Life Insurance Corporation (LIC) goes to the public it will increase transparency & accountability, after all it is public’s property, I don’t think there is any harm if a small part of it is with the people,” he said.
On stock market’s response to Budget, Goyal said there are some specific sectors in the stock market that carry a lot of weightage, for example, we have increased tax on cigarettes, so ITC’s stocks have weakened a bit, he said.
Defence Minister Rajnath Singh hailed the Union Budget for 2020-21, saying it will revive growth and rejuvenate demand in the economy.
Rajnath said the Budget is not only investment friendly but it will go a long way in doubling farmers’ income and unshackling Indian industries.
“The first Budget of the new decade presented by Finance Minister Nirmala Sitharaman gives an outline of a new and confident India. It is a promising, proactive and progressive Budget which will make India healthy and wealthy in coming years,” the Defence Minister said.
“The new tax reforms introduced in the Budget this year are extremely progressive, bold and unprecedented in nature. The new tax regime will reduce tax burden on common man. It will pave the way for an efficient tax system, in sync with the best practises in the world,” he added.
The Defence Minister also complimented Sitharaman for proposing policy intervention in areas like new technologies, saying investments in these sectors will build a strong foundation for a new India based on knowledge driven economy.
He said the Budget proposals have emphatically laid a foundation to achieve the goal of USD 5 trillion economy by 2024-25.
Ridiculing Congress leader Rahul Gandhi’s disapproval of the Budget-20-21 and welcoming budget proposals, Union Minister Dharmendra Pradhan said, “A person who is hollow himself, will find everything hollow. I request Rahul Gandhi to educate himself, stay in the country, learn about it and have a positive mindset. Then he will be able to contribute to the country as Opposition”.
Union Minister Nitin Gadkari asserted that the Budget will boost growth while Union Minister Prakash Javadekar described the budget as “most pragmatic” at a time when the world economy is facing headwinds.
India has not only managed a “good growth rate” but is also marching towards a better rate, he said, adding that the budget will usher in all-round development, he said.
BJP ally and LJP leader Ram Vilas Paswan, also a Union Minister, praised the Budget as “historic” and “development-oriented”.