"Middle Class A Big Force... Steps Taken To Empower It": PM On Budget
Prime Minister Narendra Modi praised the last full-fledged Union Budget - before the country holds the general election - as one that will lay the foundation of a strong economy. PM Modi said the government has taken decisions to empower the middle class, which "is a big force" behind India's prosperity and development.
"This Budget will fulfil the dreams of the poor, villagers, farmers and middle class," PM Modi said in a national address after Finance Minister Nirmala Sitharaman presented the Budget in parliament.
Apart from raising the rebate for individual taxpayers from up to Rs 5 lakh to Rs 7 lakh a year, the Finance Minister said the government will spend Rs 15,000 crore on a mission for safe housing, sanitation, drinking water and electricity for tribals.
Other social welfare measures include assistance for one crore farmers to convert to natural farming, and increasing the Pradhan Mantri Awas Yojana's share by 66 per cent to Rs 79,000 crore.
The government, however, cut back spending on the rural jobs guarantee scheme for the next fiscal to Rs 600 billion. The allocation is lower than the revised Rs 894 billion spending outlay for 2022-23, and the smallest since 2017-18.
Unprecedented investment of Rs 10 lakh crore in infrastructure will give speed and new energy to development, PM Modi said, adding the government has empowered the middle class to fulfil their dreams of a prosperous, developed India.
