Prime Minister Narendra Modi on Monday hailed the union budget, saying it lays foundation for a strong India and helps to take a leap towards building a powerful nation.
He also said the pro-poor and pro-middle class budget has been discussed worldwide. “This budget is going to give strength to a developed nation ensuring everyone’s participation in achieving the goal. It has further reinforced the foundation of a strong India when it completes 100 years of its independence,” Modi said at a public rally here after inaugurating Hindustan Aeronautics Limited's helicopter factory in this district.
This is PM's third visit to poll-bound Karnataka in less than a month. He is scheduled to inaugurate the Aero India show here on February 13 and unveil the airport in the district headquarters town of Shivamogga on February 27. Modi said the budget tabled by Union Finance Minister Nirmala Sitharaman on February 1 was a "major step towards a strong, prosperous, complete, powerful and a fast-moving India".
Many major steps have been taken that favours rural India, poor, women, youth and elderly people, he said.“This budget is ‘Sarva Sparshi’ (touching everyone’s life), ‘Sarva Hitakari’ (beneficial to all), ‘Sarva Samaveshi’ (all inclusive), ‘Sarva Sukhkaari’ (pleasant to all) and ‘Sarva Priya’ (loved by all). This budget gives job opportunities to all and encourages self-employment,” Modi told the gathering.
This budget favours agriculture and villages by promoting ‘Sri Anna’ (millets), which will give a "global strength" to the marginal farmers. He said the government has earmarked Rs 70,000 crore to give "roof" (shelter) to every poor family in villages.
The Prime Minister also lauded the income tax slabs announced in the budget. There is enthusiasm among the middle class due to zero income tax on income up to Rs seven lakh annually, especially youth below the age of 30 who newly got a job or launched a new business.
Increasing the deposit limit from Rs 15 lakh to Rs 30 lakh will increase the returns for senior citizens and making the leave encashment up to Rs 25 lakhs tax free will benefit those in the private sector, he added.
