Prime Minister Modi said his government is focused on reducing the tax burden.
Prime Minister Narendra Modi today said the Union Budget 2024 will benefit all sections of society and lay the foundation for a developed India.
“This budget will empower all sections of the population. It will benefit goon, gareeb, kisaan (village, poor and farmers). It will give a new scale to education and skills, and open new opportunities for the youth. This budget will give new strength to the middle class,” the prime minister said.
Finance Minister Nirmala Sitharaman presented the budget in Parliament this morning. After the presentation, the Prime Minister said it would give an unprecedented boost to jobs.
“This budget is focused on women and will contribute to women-led development and greater participation of women in the overall workforce. It is development-oriented and has led to increased investment in infrastructure,” he said.
This budget will act as a catalyst to ensure that India becomes the world's third-largest economy in the coming years, Prime Minister Modi said. Making India the third-largest economy was a key election promise of the BJP, which returned for a third term with the help of some coalition partners.
Prime Minister Modi said his government is focused on reducing the tax burden by updating the rules under the new tax regime.
He also praised the government's plans for the overall development of East India and said, “The holistic development of East India will get the necessary impetus from the Purvi Bharat development plan.”
“Rs 1,000 crore for development of space sector, abolition of angel tax, creation of new satellite cities, new public transport plans, etc. will take India closer to its goal of becoming a developed country and create economic hubs across India,” he added.
The Prime Minister further said that the Budget will provide new opportunities to startups and innovation ecosystem. “We need to create entrepreneurs at the city, village and home level. We need entrepreneurs to emerge in every home. We aim to make India a global manufacturing hub,” PM Modi said.