Empowers middle class, gives unprecedented push to jobs: PM Modi on Budget

NEW DELHI: Prime Minister Narendra Modi on Tuesday said the Union Budget 2024-2025 is for Viksit Bharat which ensures inclusive growth, benefiting every segment of society and paves the way for a developed India.

Speaking after his government’s first Budget of its third term in office was presented in the Lok Sabha, PM Modi 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 society. It will benefit gaon, gareeb, kisaan (village, poor and farmers.) It will give a new scale to education and skill, and open new avenues for the youth.This Budget will give new strength to the middle class,’’ the Prime Minister said in a video message. He said the Budget would give an unprecedented push to jobs.

“This Budget is women-focussed and will help towards women-led development and more participation of women in the overall workforce. It is development focussed and has increased investment in infrastructure,’’ he said.This Budget will act as a catalyst to ensure India becomes the third-largest economy globally in the next few years, he said. PM Modi said his government has focussed on reducing the tax burden by updating the rules under the new tax regime. He also hailed the government’s plans for the all-round development of eastern India.

The Prime Minister said the Budget offers new opportunities to startups and the innovation ecosystem. “We need to create entrepreneurs at the city, town, village and home level. We need entrepreneurs to emerge in every home. We aim to make India a global manufacturing hub,’’ the PM said.

He said the government has announced the Employment Linked Incentive scheme, which will create crores of new jobs in the country.

PM Modi said that the Budget has brought new opportunities, new energy, new employment and self-employment opportunities. It has brought better growth and a bright future for the nation. He congratulated Finance Minister Nirmala Sitharaman and her entire team.

Asserting the commitment to make India the manufacturing hub of the world, the Prime Minister underlined the links of Micro, Small and Medium Enterprises (MSME) with the middle class of the country and its employment potential for the poor segment of society.

PM Modi said that the new scheme announced in the Budget will increase the ease of credit for MSMEs. The Prime Minister said that e-commerce, export hubs and testing of food quality will give new momentum to the One District-One Product programme.

Highlighting the record exports in the defence sector, the Prime Minister mentioned that this year’s Budget consists of numerous provisions to create an ‘Aatmanirbhar’ defence sector. He said that the world’s attraction towards India is constantly on the rise opening up new avenues for the tourism industry.