Prime Minister Narendra Modi on Sunday said the Union Budget presented by finance minister Nirmala Sitharaman was historic and a highway of immense opportunities that will give new speed to the “Reform Express” that India is riding.
“This budget realises the dreams of the present and strengthens the foundation of India’s bright future. This budget is a strong base for our high flight towards a developed India (Viksit Bharat) of 2047,” he said in his address after the budget presentation.
The budget, he said, realised the vision of trust-based governance and human-centric economy. “This is such a unique budget in which there is a focus on reducing the fiscal deficit and controlling inflation, and along with this, there is a coordination of high capex and high growth in the budget,” he said.
He underscored the significant measures that were implemented to boost tourism, especially in the Northeast, and said the budget laid the foundation for balanced and equitable development.
At a time when India is aiming to become a $5 trillion economy, the PM said the budget re-empowered the country’s global role and that Indians want to become the world’s third-largest economy as soon as possible.
“...This is the resolve of crores of countrymen. India’s role as a ‘trusted democratic partner’ and ‘trusted quality supplier’ of the world is continuously increasing. The maximum benefit of the big trade deals that India has done recently — the mother of all deals — should go to the youth of India and to India’s small and medium industries,” he said. He appeared to be referring to the recently announced trade pact between India and the European Union, among others.
He also credited the budget for giving an ambitious road map for flagship schemes such as Make in India and the Atmanirbhar Bharat Abhiyan, and said several big steps were taken to strengthen infrastructure through dedicated freight corridors, expansion of waterways; high-speed rail corridor, and development of Tier-2 and Tier-3 cities to accelerate the journey of developed India.
“The biggest capital of any country is its citizens. In the past years, our government has made unprecedented investment in enhancing the potential of the citizens of the country. Our effort has been to continuously give strength to skill, scale, and sustainability. As Nirmala ji said in Parliament today, this is a Youth Power Budget. It contains the thinking of the youth, the dreams of the youth, the resolve of the youth, and also the speed of the youth,” the PM said.
The PM said the provisions made in the budget will create leaders, innovators, and creators in different sectors. “Through the creation of medical hubs, through allied health professionals, by promoting the orange economy (i.e., audio-visuals and gaming), by encouraging tourism, and through the Khelo India Mission, doors of new opportunities will open for the youth,” he said.
For women, another crucial vote bank for the ruling party, the budget’s decision to prioritise self help groups was also underscored by the PM. “The effort is that Goddess Lakshmi arrives in every home. The campaign to build new hostels for female students in every district will also make education accessible,” he said.
Listing the allocation for agriculture, dairy sector, and fisheries, the PM said the budget contained several important steps taken for the farmers growing coconut, cashew, cocoa, and sandalwood. He added that the ‘Bharat Vistar AI’ tool will further help farmers by providing information in their own language.
“This budget is ambitious and it also addresses the aspirations of the country…and ensures the welfare of the village, the poor, and the farmer,” he said. Noting that this was Sitharaman’s ninth budget presentation, the PM said it is a powerful reflection of the country’s Nari Shakti (women power). “As a woman finance minister, Nirmala ji has set a new record by presenting the country’s budget for the ninth consecutive time,” he said.
