PM Modi praises Union Budget 2024-25, hails it as a catalyst for development !!!

New Delhi:-(Union Budget) Prime Minister Narendra Modi lauded the Union Budget 2024-25, presented by Finance Minister Nirmala Sitharaman, for its comprehensive approach to development. He congratulated the citizens and the Finance Minister’s team, asserting that the budget will empower various sections of society, including poor farmers, the neo-middle class, tribal communities, Dalits, and backward classes.

Boost to education, skill development, and employment

The Prime Minister highlighted the budget’s focus on education and skill development, which aims to create countless employment opportunities. He emphasized the success of the Production Linked Incentive (PLI) scheme and introduced the Employment Linked Incentive scheme, where the government will cover the first salary of the first job for youths. Additionally, provisions for higher education and internships for 1 crore youth were announced, providing new avenues for young interns.

Support for small businesses and MSMEs

Modi emphasized the budget’s support for entrepreneurs by raising the limit of collateral-free loans under the Mudra Loan from Rs 10 lakhs to 20 lakhs. This will benefit small businessmen, women, Dalits, and other marginalized groups. He also introduced a new scheme to enhance credit access for MSMEs, strengthening their ties with the middle class and their potential for job creation.

Manufacturing, exports, and infrastructure development

The Prime Minister stated that the budget will enhance manufacturing and exports across districts through initiatives like e-commerce, export hubs, and food quality testing under the One District-One Product program. He highlighted the record high capital expenditure and the development plans for 12 new industrial nodes, new satellite towns, and transit plans for 14 major cities, which will create numerous jobs and new economic hubs.

Innovation, startups, and defence sector growth

Modi noted the budget’s provisions to support India’s startup and innovation ecosystem, including a Rs 1,000 crore corpus fund for the space economy and the abolition of the angel tax. He also emphasized the record defence exports and the budget’s provisions for creating a self-reliant defence sector.

Tax reforms and regional development

The Prime Minister mentioned that over the past decade, the government has provided tax relief for the poor and middle class. This year’s budget includes income tax reductions, an increased standard deduction, and simplified TDS rules, allowing taxpayers to save more money. Modi also highlighted the ‘Purvodaya’ vision for the development of eastern India, focusing on highways, water projects, and power projects.

Agricultural ddvancements and poverty alleviation

The budget introduces Vegetable Production Clusters and measures to boost the production of pulses and oilseeds, aiming for self-reliance in the agricultural sector. Modi announced major schemes for poverty alleviation, including 3 crore houses for the poor and the Janjatiya Unnat Gram Abhiyan, which will connect 5 crore tribal families to basic facilities. The Gram Sadak Yojna will connect 25,000 new rural areas with all-weather roads.

A bright future for India

Modi concluded by emphasizing the budget’s potential to create new opportunities, energy, and employment. He underscored its role in driving India towards becoming the third-largest economy in the world and laying a strong foundation for a developed India.