Budget 2024 guarantees strong foundations for Viksit Bharat: PM Narendra Modi

Aditi Tandon

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New Delhi, February 1

Prime Minister Narendra Modi on Thursday said the interim budget presented on Thursday is a guarantee of strong foundations for developed India and will empower women, youth, poor and farmers, “the four pillars of Viksit Bharat”.

Speaking after Union Finance Minister Nirmala Sitharaman presented the budget in Lok Sabha, the PM said the budget was both “inclusive and innovative”.

“The Budget has the confidence of continuity and will empower the four pillars of developed India — youth, poor, women and farmers. The FM’s budget is the budget to build the future of India,” the prime minister said, adding “a guarantee of strong foundations for developed India by 2047 was inherent in the budget”.

Discussing budget highlights, the PM cited two youth-centric announcements — Rs 1 lakh crore fund on research and innovation and tax exemptions for startups.

“The Budget and its announcements mirror the aspirations of young India,” Modi said with the BJP-led NDA government presenting its last financial document before the announcement of the 2024 Lok Sabha election in which Modi will seek a third straight term in office.

Keeping the future goals in mind, the PM termed 11 per cent rise in capital expenditure to Rs 11,11,111 crore in the interim budget as “historic”. He said this had been done while keeping the fiscal deficit in control.

Dwelling on the nuances of the budget, Modi called it a sweet spot “as is said in the language of economists”.

“This Budget will not only help build modern infrastructure for the 21st century India but also spur countless job opportunities for the youth,” he noted after Sitharaman steered clear of any major pre-poll sops to the surprise of the opposition.

Among budget announcements for common people, the PM listed the decision to upgrade 40,000 normal train bogies to Vande Bharat standards to offer common commuters a comfortable travel experience.

He made special mention of the announcements for women, a major constituency of the BJP, saying, “We set large goals, achieve them and reset bigger goals. We had earlier targeted to ensure 2 crore women to make at least Rs 1 lakh annual income. This target has been raised to 3 crore. After completing four crore rural houses, the government has pledged to build two crore more.”

“And Ayushman Bharat scheme which has proved a great boon for the poor will now also cover ASHA workers, anganwadi workers and helpers,” the PM said, adding that the aspirations of poor and middle classes had been adequately addressed in the document.

After Sitharaman announced the scheme to give free power to one crore families through rooftop panels, the PM said, “By selling extra power, each of these families will make Rs 15,000 to Rs 20,000 annual income.”

Modi had announced this PM Suryodaya Yojana on the evening of January 22, the day he inaugurated the Ram Temple in Ayodhya.

The Income Tax Remission Scheme announced today was part of the PM’s post-budget remarks.

“This scheme will benefit one crore middle-class families. Past government had hung the sword of legacy tax on the heads of common Indians for decades,” the PM said.

He listed budget decisions on the use of nano DAP; new scheme for animals; expansion of PM Matsya Sampada Scheme and Atma Nirbhar oilseed campaign as major pro-farmer announcements.