General budget will lay solid foundation for developed India: PM

New Delhi, July 23 (HS). Prime Minister Narendra Modi, while reacting to the general budget on Tuesday, has described it as laying a solid foundation for developed India. He said that this budget will empower every section of the society.

The Prime Minister described the budget as taking the country to new heights of development and congratulated Union Finance Minister Nirmala Sitharaman and her team. He said that this budget is going to take the villages, poor and farmers of the country on the path of prosperity. In the last 10 years, 25 crore people have come out of the poverty line. This budget is a continuation of the empowerment of this new middle class. Referring to the emphasis on youth in the budget, the Prime Minister said that its measures will open many new opportunities for the youth.

Skills of youth will get importance

He said that this budget will give a new scale to education and skills. This is a budget that will give new strength to the middle class. It has come with strong schemes to empower tribal society, Dalits and backward classes. This budget will help in ensuring economic participation of women. The Prime Minister said that this budget will provide a new path of progress to small traders, MSMEs. There is a lot of focus on manufacturing and infrastructure in the budget. This will give new impetus to economic development.

Self-employment will get a boost

The Prime Minister said that we have to make every city, every village, every house an entrepreneur. For this purpose, the limit of Mudra loan without guarantee has been increased from Rs 10 lakh to Rs 20 lakh. This will give strength to self-employment among small businessmen, especially women, Dalit, backward and tribal families. He said that in this budget, a new scheme has been started to increase the ease of loan for MSMEs. Important announcements were made in the budget to take the manufacturing and export ecosystem to every district. This budget has brought completely new opportunities for our equipment, innovation ecosystem. Be it a fund of Rs 1,000 crore to promote space economy or the decision to remove angel tax, many such steps have been taken in this budget.

Relief in income tax is a big thing

The Prime Minister said that the NDA government has ensured in the last 10 years that the poor and the middle class are constantly given relief from taxes. In this budget too, a big decision has been taken to reduce income tax and increase standard deduction. It is also easy to meet the standards of TDS. Every taxpayer is going to get additional savings from these steps.

Farmers are at the center

He said that a big focus of this budget is on the farmers of the country. After the world's largest carrot for food storage, now we are going to create vegetable production clusters. This will provide new markets and better prices to small farmers for vegetables, fruits, other produce.

The Prime Minister said that poverty should be eradicated in the country, the poor should be protected, in this direction too the chief ministers made announcements in today's budget. It has been decided to build new houses worth 3 crores for the poor. Jan Unnat Unnat Gram Abhiyan, 5 crore relatives were connected to their relatives with saturation approach. Apart from this, 25 thousand new rural areas will be connected with all-weather roads under the Gram Sadak Yojana.