Budget presents reforms to accelerate the economy, says the prime minister
NEW DELHI: The Budget presents a solid vision, as well as actions through new reforms to accelerate the economy and lay a firm foundation for the development of modern India in the new decade, PM Narendra Modi He said Saturday.
The prime minister said the objective of the Budget was to strengthen all citizens economically. “Employment is mainly generated in agriculture, textiles and technology ... there is a boost for job generation in these areas. There is an effort to double farm income with 16 action points, ”he added.
Modi said there was an integrated approach to agriculture with traditional practices supported along with horticulture, fishing and animal husbandry.
Interior minister Amit Shah He said the Budget offered Rs 85,000 million for schemes and measures for scheduled castes and other disadvantage sections, while there were Rs 57,000 million. “The water mission is an important addition to the housing, electricity, toilets and cooking gas programs that have already been implemented by government , he said.
“In this Budget, the Modi government has taken effective steps to rationalise the tax system, boost basic infrastructure, strengthen the banking system, promote and ease of doing business,” Shah said. There was unprecedented relief for income tax payers of every category, particularly the middle class, he said, adding that salaried taxpayers would not only see their tax reduced but would get relief from simplification of the tax system.
The PM said the duty structure had been reformed and the Ayushman Bharat programme had given a major boost to the health sector. “The connection between technology and job has been recognised. The necessary policy support for quantum computing has been given. India is being made a bigger part of the global value chain , he said.
Initiatives have been launched aimed at developing skill sets needed in modern India with degree courses in entrepreneurship and internships in local government , the PM said. “There is an ambitious plan to develop export potential in districts. Modern India needs modern infrastructure. The Rs 1 lakh crore for 6,500 projects will spur business and trade. Tourism needs infrastructure and it can generate job with lesser investment,” he added.“There are basic changes in the tax structure, there is investment for job and historic steps have been taken like in the bond markets and removal of DDT. Companies will get Rs 25,000 crore for investment. All these decisions are intended to create more jobs for youth,” the PM said.