Updated: February 2, 2020 10:34:26 am
Praising the Budget for having “vision” as well as “action” and for its focus on boosting economic growth, Prime Minister Narendra Modi said it would strengthen the foundations of the Indian economy in this decade.
“The main areas of employment are agriculture, infrastructure, textiles and technology. In order to boost employment generation, these four areas have been given a lot of emphasis in this Budget,” Modi said in his reaction to the Budget immediately after it was presented in the Lok Sabha.
The Prime Minister also said that by easing the taxation process, the Budget had further strengthened the government’s commitment to minimum government, maximum governance. Modi also said the 16-point action plan to revive the agricultural sector would ensure doubling of farm incomes and generate employment in rural areas.
“The National Logistic Policy will benefit trade, business and employment. The target to build 100 airports in India will embolden the will of a general Indian. This infrastructure is very important for Indian tourism,” the Prime Minister said. He added: “India will now move to become a key member of the global value chain. The skill development of the youth has also been stressed upon. Skill sets needed for the development of a modern and New India have been focussed.”
Home Minister Amit Shah said the Budget would help fulfill the Central government’s resolve to double the income of farmers and provide “unprecedented” relief to the taxpayers. In a series of tweets, Shah said world-class highways, railways, ports, airports and metros would be built in the country with the allocation of Rs 100 lakh crore. “In this Budget, the Modi government has taken effective steps to rationalise the tax system, boost basic infrastructure, strengthen the banking system, promote investment and ease of doing business, which will further the Modi government’s resolve to make India a five-trillion-dollar economy,” he said.
Hailing the Budget as “visionary, futuristic, growth-oriented, transformative and all-inclusive”, BJP president J P Nadda said it would ensure development of all sections of society.
Union minister Prakash Javadekar described the Budget as the “most pragmatic“ at a time when the world economy is facing headwinds. India has not only managed a “good growth rate“ but is also marching towards a better rate, he said, adding that the Budget would usher in all-round development.
Defence Minister Rajnath Singh said the Budget will revive growth and rejuvenate demand in the economy. It is investment-friendly and will go a long way in doubling farmers’ income and unshackling Indian industries, he said.
“The first Budget of the new decade presented by Finance Minister Nirmala Sitharaman gives an outline of a new and confident India. It is a promising, proactive and progressive Budget which will make India healthy and wealthy in coming years,” Singh said.
Union Minister Nitin Gadkari asserted that the Budget will boost growth.
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