New Delhi, July 23
Prime Minister Narendra Modi said that the Union Budget 2024-25, presented on Tuesday, will give new impetus to economic development in the country.
The Prime Minister said that the budget would empower all sections of society.
"This is a budget that will take the country's villages, poor and farmers on the path of prosperity. In the last 10 years, 25 crore people have come out of poverty. This budget is a budget for the continuation of the empowerment of the newly emerged, Neo Middle Class," PM Modi said in his remarks on the budget.
"This will give new strength to the middle class. It has come up with strong plans to empower the tribal society, Dalits and backward classes," he said.
PM Modi also highlighted the announcements regarding tax and TDS rules and said, "Many provisions have been made in this budget to make the defence sector self-reliant. The focus is also laid on the tourism sector in this budget. A decision has also been taken on the reduction of tax and TDS rules are also simplified. We are speeding development in the eastern region by the way of construction of highways and water and power projects."
On announcements regarding MSMEs, the Prime Minister said that it would provide a new path of progress for small traders and MSMEs.
"A new scheme to increase ease of credit has been announced in the budget. Announcements have been made to take the export and manufacturing ecosystem to every district in this budget. This budget will bring new opportunities for startups and the space economy," he said.
He said that there is a lot of focus on manufacturing and infrastructure in the budget.
"We will together make India a global manufacturing hub. The MSME sector of the country is connected to the middle class. This sector provides maximum employment to the poor. This budget will give a new scale to education and skills," the Prime Minister said.
PM Modi said that this budget would facilitate the economic participation of women.
"This is a budget that will provide countless new opportunities to the youth," PM Modi said congratulating the people of the country on the "landmark" budget.
He said that this is poised to propel the nation to unprecedented heights of progress.
"In this Budget, the government has announced 'Employment Linked Incentive scheme. This will help generate many employment opportunities. Under this scheme, the government will give the first salary to those who are newly entering the workforce. Youth from villages will be able to work in the country's top companies under the apprenticeship program," he added.
The Prime Minister also congratulated Union Finance Minister Nirmala Sitharaman and her team for their tireless efforts.
Earlier, the Union Budget 2024-25 presented by Finance Minister Nirmala Sitharaman on Tuesday, identified nine priorities for generating ample opportunities including productivity and resilience in agriculture, employment and skilling and manufacturing and services.