New Delhi, Feb 1: Prime Minister Narendra Modi lauded Friday’s budget as more than just an interim financial plan, describing it as “an inclusive and innovative budget”.
Asserting that the budget ensures continuity, he emphasised its potential to empower key pillars of a developed India – the youth, the poor, women, and farmers. Commending Finance Minister Nirmala Sitharaman for her visionary approach, PM Modi said, “Nirmala Ji's budget is dedicated to building the future of the nation. This budget is a pledge to fortify the foundations of a developed India by 2047.”
Characterising the budget as a reflection of Young India’s aspirations, he highlighted two significant decisions: the allocation of Rs 1 lakh crore fund for research and innovation and the extension of tax exemptions for startups.
While maintaining fiscal discipline, the PM revealed that the total expenditure in this budget had historically risen to Rs 11,11,111 crore.
Describing it as a “sweet spot” in economic terms, he predicted the creation of numerous job opportunities and the development of 21st-century infrastructure in India.
Additionally, he announced plans to manufacture 40,000 modern bogies of Vande Bharat Standard for general passenger trains to enhance the travel experience.
PM Modi outlined ambitious goals, emphasising the government’s commitment to the welfare of the poor and middle class.
He disclosed plans to construct over 4 crore houses in villages and cities, to build an additional 2 crore houses.
The empowerment of women was also highlighted, with the target to create 3 crore ‘Lakhpatis’.
Praising the Ayushman Bharat Yojana for its significant assistance to the poor, the PM announced its extension to Anganwadi and ASHA workers.
Emphasising the focus on empowering the poor and middle class, he highlighted initiatives like the Roof Top Solar Campaign, benefiting 1 crore families with free
electricity and the opportunity to earn Rs 15,000 to Rs 18,000 per year by selling excess electricity to the government.
The PM announced an income tax remission scheme providing relief to approximately 1 crore citizens in the middle class.
Discussing farmer welfare, he mentioned the use of Nano DAP, a new scheme for animals, the expansion of PM Matsya Sampada Yojana, and the Atma Nirbhar oil seed campaign to increase farmers’ income and reduce expenses.