finance
The first budget of the Amrit Kaal marks a significant step toward realizing the aspirations of a developed India. It prioritizes the needs of the underprivileged and aims to address the dreams of the aspirational society, including the poor, rural communities, and the middle class.
Prime Minister Shri Narendra Modi praised Finance Minister Nirmala Sitharaman and her team for their efforts in presenting a historic budget. He acknowledged the invaluable contributions of traditional artisans, such as carpenters, blacksmiths, goldsmiths, potters, sculptors, and others, remarking that this budget introduces various schemes in their honor. The PM Vishwakarma Kaushal Samman (PM ViKaS) initiative is particularly aimed at transforming the lives of millions of artisans.
The budget includes significant measures tailored to empower women across urban and rural settings, whether they are engaged in employment or homemaking. Key programs such as the Jal Jeevan Mission, Ujjwala Yojana, and PM Awas Yojana will be enhanced to support women's welfare. The introduction of a special savings scheme for women is aimed at strengthening the financial status of homemakers from ordinary families.
The Prime Minister stated that cooperatives will play a crucial role in advancing the rural economy. The budget introduces the world's largest food storage program in the cooperative sector, along with an ambitious initiative to establish new primary cooperatives. This will enhance milk and fish production, benefiting farmers, ranchers, and fishermen by ensuring better prices for their goods.
The government aims to replicate the success of digital payments in the agriculture sector, launching a substantial plan for digital agriculture infrastructure in this budget.
The Prime Minister highlighted the celebration of the International Year of Millets and emphasized the diverse range of millets available in India. He underlined the importance of recognizing millets, now branded as "Shree-Anna," as it gains global popularity. The focus on this superfood is expected to provide economic benefits to small and tribal farmers, while also promoting a healthier lifestyle for citizens.
The budget aims for an unprecedented expansion of Green Growth, Green Economy, Green Infrastructure, and Green Jobs, all crucial for a sustainable future. Significant investments—approximately ten lakh crores—will boost India's infrastructure, creating new job opportunities and energy in the economy. This represents an increase of over 400% in infrastructure investment since 2014, reflecting a commitment to modernize roads, railways, and waterways.
The government plans to enhance the Ease of Doing Business through credit support and industrial reforms. An additional loan guarantee of ₹2 lakh crores has been announced for MSMEs, along with an increase in the presumptive tax limit to facilitate MSME growth. New measures will also ensure that large corporations make timely payments to these enterprises.
The middle class is viewed as a vital force in achieving the dreams of 2047. The government has implemented various measures in recent years to elevate the middle class's standard of living, such as reducing tax rates and streamlining administrative processes. Prime Minister Modi emphasized that the government consistently supports this demographic with tax relief and reforms.
In conclusion, the Prime Minister congratulated Finance Minister Sitharaman and her team for crafting a budget aimed at achieving a prosperous and strong India by 2047. The focus on various sectors, including women empowerment, cooperatives, and green initiatives, sets a positive tone for the country's future. The Prime Minister encouraged collective efforts to advance on this journey towards a developed India.