Speed Post News Network
New Delhi : PM Narendra Modi on February 1 congratulated Finance Minister Arun Jaitley for presenting an excellent Budget. “It will empower the poor and live up to the expectations of all. It will provide an impetus to infrastructure, strength to the financial system and a big boost to the development. The budget has provisions to fulfil the expectations of everyone- from construction of highways to expansion of I-ways, from the cost of pulses to the data speed, from the modernization of railways to simple economic constructions, from education to health, from entrepreneurs to industry, from textile manufacturers to tax deduction. The Finance Minister and his entire team deserve praise for this historic budget,” the PM said.
This Budget is a reflection of the development measures undertaken by the government over the past two and a half years. “The merger of the Railway budget with the Union Budget is a major step. It will help in integrated planning of the transport sector. Railways can now contribute in a much better way in meeting the transport needs of the country,” PM Modi said.”The focus of the budget is on agriculture, rural development and infrastructure which is also0a reflection of the government’s commitment to raise investment and create employment opportunities. The allocation for the schemes in these categories has been hiked substantially. The budgetary outlay for Railways and Road transport sector have also been substantially increased. Government’s aim is to double the farmers’ income by 2022. Maximum emphasis in this budget has been on the farmers, villages, poor, dalit and the underprivileged sections of the society. Agriculture, animal husbandry, dairy, fisheries, watershed development, Swachcha Bharat Mission are the areas which hold lots of potential to uplift the economic situation in rural India,” the PM said according to a PIB release.
The PM said special allocation has been made for the sectors like Electronic manufacturing, Textiles which create new job opportunities. Provisions have been made to bring in the people working in the unorganized sector to the organized sector. Budget allocation for Skill development has been enhanced considerably keeping in mind the youth of our country, he said. “Record allocation,the highest ever, has been made for Mahatma Gandhi National Rural Employment Guarantee Scheme. Budgetary outlay for the schemes related to women’s and children welfare has been enhanced. There has been a considerable hike in the allocation of budget for health and higher education,” the PM added.
“We have undertaken the exercise to launch Digital economy in a mission mode which will go a long way in achieving the target of 2,500 crore digital transactions in 2017-18,” Modi said.
“The move to reduce the personal income tax is significant as it touches the middle class most. Bringing down the rate from 10 to 5 percent is a bold move. Most of the taxpayers in India would be benefitted by this decision. You would have seen, my fight against black money and corruption is on. The new scheme by the Finance Minister related to poll funding is along the lines of the hopes and aspirations of the people in our fight against the black money,” Modi said. The Government has amended the definition of Small scale industries, widened their scope and reduced the tax rate 0from 30 to 25 percent. This implies that over 90 percent of our Small scale industries will be benefitted, the PM remarked.
“This budget is associated with our aspirations, our dreams and in a way depicts our future. When I say future, it has a meaning in each of its letters. In FUTURE, the letter F stands for the farmer, U stands for Underprivileged which includes dalit, oppressed, women etc., T stands for Transparency, Technology Upgradation- the dream of a modern India, U stands for Urban Rejuvenation –the urban development, R stands for Rural Development and E stands for Employment for youth, Entrepreneurship, Enhancement to give a push to new employment and boost to young entrepreneurs,” Modi said, according to PIB release.
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