Budget 2020: PM Narendra Modi lauds decade's first budget for having "vision" and "action"
PM Modi belives that Budget 2020 will propel India to a new decade of economic growth. He congratulated FM Nirmala Sitharaman for delivering a visionary budget.
Prime Minister Narendra Modi released a 14-minute video commentary on the Union Budget 2020 on his official Twitter handle this evening.
The PM lauded the "decade's first budget" for having "vision" and "action" - one that could propel India into the modern era, and establish it as an "integral player" in the world. Modi said,
"I congratulate Nirmala Sitharaman Ji and her entire team at the Ministry of Finance. The reforms announced in this Budget will speed up the economy, and increase the spending power of every Indian. This Budget heralds a new decade, and I wish to congratulate the entire country for it.
The Prime Minister went on to highlight the most important and impactful announcements made by the FM earlier in the day.
Speaking of the new income tax regime, he said:
"We have reiterated minimum government and maximum governance with the new and simplified direct tax structure. It will reduce the government's presence in people's lives and increase their ease of living."
He added that several other tax concessions announced in the Budget will help attract more investment in the country and boost economic activity.
Modi singled out "employment generation" as one of the key focus areas of the government. He said,
"To generate more employment, four sectors - agriculture, infrastructure, textile, and technology - are in focus. The 16-point agriculture plan will also help boost farmer incomes."
He also stressed on improving exports to revive the slowing economy.
"The export and MSME sectors will drive employment generation. Every district will be empowered to become an export hub under the new proposals," Modi said.
Further, the government's plans to build 100 new airports in the country is an attempt to drive growth in travel and tourism.
"The new airports will be essential for the travel and tourism industry, and this will increase income generation for the economy," Modi said. "Modern infrastructure will lead to a modern India. This sector is critical for employment generation," he added.
The Prime Minister singled out the education sector for praise.
He spoke of the benefits of the proposed common eligibility test that will allow student aspirants at any location to take an online test for recruitment in non-gazetted government posts. It will save them transport and travel costs, and ease the admission process.
"The government will also support various degree courses, entrepreneurship courses, student involvement in local bodies, internships, and other online courses to promote skill development across sectors."
Finally, the PM doffed his hat to the Ayushmann Bharat Yojana (which was announced in Budget 2019). "It has given new direction to the country's healthcare ecosystem," he said, adding: "It has also created great scope for medical device manufacturing in India. To boost this, the government has announced many new steps in budget."
(Edited by Megha Reddy)