The budget will feed the aspirations of the new India: Anurag Singh Thakur

NEW DELHI: The Minister of State for Finance, Anurag Thakur, said Saturday that the Budget will feed the aspirations of the new India and give a significant boost to the middle class, farmers, youth, women and is a bonanza for Investors

The Budget focuses on three ideas: aspirational India, economic development, a solidarity society, is being acclaimed by all strata of society for its comprehensive coverage.

Calling it the Budget of the new decade, Thakur said: This is a Budget for the new India and with the progressive vision of making it aspirational, oriented towards the development and care of each and every one in society, this is one of the best Pro people budgets submitted so far. All strata of society have been taken into account and important reforms have been carried out for the benefit of young people, women, farmers, investors and the middle class.

Thakur said the Budget will help lay the groundwork for India to become an economic power. Its objective is to increase people's income and purchasing power, therefore, the middle class has been given the highest priority. The new tax regime proposes to provide significant relief to individual taxpayers where income tax rates have been significantly reduced.

Live plus “We are committed to double the income of farmers by 2022 and important initiatives have been proposed for it. With the advent of 'Kisan Rail' and 'Krishi Udaan' that will be launched by Indian Railways and the civil aviation ministry, respectively, for a seamless national cold supply chain for perishable products, this will also be beneficial, as it will help to farmers to facilitate without problems and fast transport of perishable products, ”he said.

The health sector has been given the momentum required with an investment of Rs 69,000 crore and reiterating the commitment to release India TB by 2025, Thakur said.

In affirming that the Union Budget 2020-21 is receiving a generalized appreciation in all sectors, the minister said that the granting of 100% tax exemptions for sovereign funds for investments in the infrastructure sector is expected to boost investments in infrastructure in India

In addition, the abolition of Dividend Distribution Tax (DDT) will be beneficial for investors of global performance search infrastructure in India, Thakur added.