The first Union Budget of Amrit Kaal, or the 25 years in the run-up to 2047 when Independent India turns 100, will build a strong foundation for a developed India and fulfil the dreams of an aspirational society including the poor, the middle-class, and farmers, Prime Minister Narendra Modi said on Wednesday.
In a televised speech soon after Union finance minister Nirmala Sitharaman presented the Budget in Parliament, Modi said the provisions prioritise the deprived sections, including craftspersons, who he dubbed as the creators of the nation.
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The Budget announced assistance for craftsmen that will enable them to improve the quality, scale and reach of their products, while integrating them with the MSME value chain, he said. The scheme will also afford access to advanced skill training, knowledge of modern digital techniques, and efficient green technologies and social security, he added.
“For the first time, the country has come up with many schemes as a tribute to the hard work and creation of these people. Arrangements have been made for training, credit and market support for them. PM Vishwakarma Kaushal Samman- PM-ViKaS will bring a big change in the lives of crores of Vishwakarmas,” the PM said.
The Budget, which has rejigged the existing tax slabs, Modi noted, has the potential to help the middle class in realising their dreams in the run up to 2047. He said the government has taken many significant decisions in previous years that have ensured the ease of living.
“Our government that always stood with the middle class has given huge tax relief to them,” the Prime Minister said, referring to the reduction in tax rates and transparency and speed in filing taxes and processing disputes.
Talking about provisions for women, who are a key support group of the ruling Bharatiya Janata Party, Modi said the government has taken significant steps through policies such as the Jal Jeevan Mission (water), Ujjwala Yojna (cooking gas), and PM Awas Yojana (housing) to empower women. He said self-help groups, if utilised to their full potential, can play a pivotal role in further empowerment.
The Budget also will make cooperatives a fulcrum of the development of the rural economy, he said, speaking of the government’s scheme to form new primary co-operatives, which will expand milk and fish production along with farming and animal husbandry.
The PM, who has been advocating the use of millets, said the Budget gives special recognition to the grain, calling the step one that is necessary to promote it globally through economic support to small farmers and cultivators in the tribal areas. “This superfood has been given a new identity of Shri-Anna,” Modi said.
He also underlined that the Budget will offer “unprecedented expansion” to green growth, green infrastructure, and green jobs for a sustainable future. “In the Budget, we have laid a lot of emphasis on technology and the new economy. Aspirational India of today wants modern infrastructure in every field like road, rail, metro, port, and waterways. Compared to 2014, investment in infrastructure has increased by more than 400 percent,” the PM said.
Stressing on the government’s commitment towards ensuring ease of doing business, he said an additional loan guarantee of ₹2 lakh crore has been arranged for MSMEs and increasing the limit of presumptive tax will help the sector grow.
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