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Budget will benefit all sections of society: Goyal

Calling it a ‘transformative’ budget focussed on policy initiatives, Power Minister Piyush Goyal said the measures announced on Thursday will take care of all sections of society and boost the economic growth of the country. ‘The budget addresses immediate concerns of all sections of society. The Finance Minister has taken several strong steps for the revival, rejuvenation and resurgence of the Indian economy,’ Goyal tweeted.

This is a transformative budget, he said adding that it highlights the problems of young, old, poor, women, farmers, SCs/STs, middle class, entrepreneurs etc. ‘The thrust on skill development, manufacturing, education, clean and renewable energy, infrastructure and healthcare are heartening to see,’ Goyal said. On the tax exemption limit that has been raised from Rs 2 lakh to Rs 2.5 lakh, Goyal said it will provide relief to individual taxpayers. ‘Also, increased tax exemption on investments and home-loan interest will boost domestic consumption and spur the economy,’ he added.

‘I am pleased that taxes on chewing tobacco products, gutka etc. and aerated soft-drinks have been hiked and I hope demand for these products will be curtailed to some extent, as a result of these measures,’ he tweeted. Goyal also welcomed special announcements on the implementation of GST, retrospective taxation, taxation benefits to promote REIT and increasing FDI in defence and insurance.
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