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Saturday, January 23, 2021

Union Budget 2020 showed ‘vision and action’: PM Modi

Prime Minister Narendra Modi, while addressing the country via videoconferencing, congratulated the finance minister and her team for presenting the first Budget of the decade that had "vision as well as action".

By: Express Web Desk | New Delhi | February 1, 2020 5:30:50 pm
budget, union budget, budget 2020, union budget 2020, union budget reactions, budget reactions, budget speech, nirmala sitharaman budget speech, modi on budget, pm modi on budget 2020, amit shah on budget, amit shah on budget 2020, business news, Indian Express “The new reforms announced in the budget will work to speed up our economy, financially empower every citizen of the country and strengthen the foundation of the economy in this decade,” PM Modi said. (Twitter/BJP)

Prime Minister Narendra Modi on Saturday lauded Finance Minister Nirmala Sitharaman and her team, saying the first Budget of the decade showed “vision as well as action”.

“The new reforms announced in the budget will work to speed up our economy, financially empower every citizen of the country and strengthen the foundation of the economy in this decade,” PM Modi said in a video address to the nation.

“Several tax concessions have been given to attract foreign investment. Tax benefits have also been provided for start-ups and real estate sector. All these decisions will boost the economy faster and will provide new employment opportunities,” he added.

Union Home Minister Amit Shah said that the Budget has taken effective steps to rationalize the tax system, boost the basic infrastructure, strengthen the banking system, and also promote investment and ease of doing business.

In a series of tweets, the home minister said that the Budget covered every person, from farmers to the salaried class. Shah tweeted, “This general budget will contribute significantly in fulfilling the Modi government’s resolve to double the income of the farmer by making available special prices for irrigation and grain storage to the farmer of the country, as well as a fair price for their produce.”

“The Modi government through this budget has provided a major and unprecedented relief in income tax to taxpayers of every category, particularly the middle-class salaried taxpayers. They will not only have to pay reduced tax but will also get relief from the simplification of the tax system,” he added.

Union Minister Piyush Goyal also hailed the Budget. Speaking to news agency ANI, Goyal said, “It is a balanced Budget which prepares India for the decade ahead of us and prepares it to be a 5 trillion dollar economy. It also covers a vast canvas both on the social side, on economic development and ensures that we continue to remain an economic powerhouse”.

Karnataka Chief Minister B S Yediyurappa, while hailing the budget said it is pro-people, pro-farmer, and pro-poor. He also thanked the Centre for giving budgetary approval for Bengaluru Suburban Rail project.

Uttar Pradesh Chief Minister Yogi Adityanath termed the Budget ‘development-oriented’ and said, “The Union Budget will help in creation of jobs. It is in the interest of farmers. It will boost continuous development and is a development-oriented budget. For this, I would like to congratulate Prime Minister Narendra Modi and Union Finance Minister Nirmala Sitharaman”.

“This Budget will also prove to be a milestone in terms of developing the basic infrastructure of the country, farmers’ growth, jobs for youth and betterment of health facilities in the country. It will prove to be a medium to fulfil the aspirations of the countrymen. It will strengthen the economy, and also protect the interests of each section of the society,” Adityanath added.

Meanwhile, Defence Minister Rajnath Singh said the Budget will revive growth and rejuvenate demand in the economy.

“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,” he said.

“The budget also promises the investors, taxpayers and wealth creators a predictable environment by assuring them of protection against tax harassment. The new tax reforms introduced in the Budget this year are extremely progressive, bold and unprecedented in nature. The new tax regime will reduce the tax burden on the common man. It will pave the way for an efficient tax system, in sync with the best practices in the world,” Singh added.

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