Prime Minister has congratulated finance minister Nirmala Sitharaman and her team for giving a good budget which caters to all sections of the society.
Bengaluru: Hours after finance minister Nirmala Sitharaman presented her second budget, promising to double the income of farmers and axing the tax for the common man, Prime Minister Narendra Modi congratulated her for the tremendous effort.
He said, “I congratulate finance minister Nirmala Sitharaman and her team for the first budget of this decade, which has a vision.”
The budget also proposes tax holidays for start ups for a period of 5 years with a view to encouraging starting businesses in India.
To this the PM said, “Budget will give new energy to youth in country by promoting start-ups”.
The common man was looking for tax relief as Nirmala Sitharaman presented her budget. Meeting their expectations, the finance minister has slashed rates on different slabs for those who would like to relinquish exemptions.
In this regard, he said, “Taxpayer charter announced in Budget will clarify rights of taxpayers. Under Blue Economy, youth will also get new opportunities in the field of fish processing and marketing.”
On the issue of creating job, the PM stressed that enough emphasis has been laid the sectors that create the most number of jobs.
He said, “The main areas of employment are agriculture, infrastructure, textiles and technology. In order to increase employment, these four sectors have been given a lot of emphasis in this Budget.
The govt has announced many measures in Budget to push employment in country.”
Also Read: Key takeaways from Nirmala's budget
The PM was also gung-ho about the acceleration the reforms mentioned in the Budget will have.
He said, “The new reforms announced in the budget will work to accelerate the economy, financially empower every citizen of the country and strengthen the foundation of the economy in this decade.”
The budget was themed around three ideas namely - Aspirational India, Economic development, A Caring Society.
Also Read: Tax slabs for the common man
Many industrialists have also given a thumbs up for the budget, saying it is in the right direction and addresses a variety of issues, but added that the reforms must be implemented immediately.
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Last Updated 1, Feb 2020, 5:37 PM