Self-reliance imperative: Modi says Budget lays out amenities for poor

Tribune News Service

New Delhi, February 2

A day after Union Budget 2022-23 was presented in Parliament, Prime Minister Narendra Modi today said its focus was to provide basic amenities to the poor, middle class and the youth.

The Prime Minister was addressing BJP cadre on Aatmanirbhar Arthvyavastha amid criticism over various aspects of the Budget, including no changes in personal income tax or tax benefits for the middle class.

Houses will Turn 80L poor into lakhpatis: PM

• The focus of Union Budget is on providing basic amenities to the poor, middle class and youth, the PM said
• Rs 48,000 cr has been allocated to build 80 lakh houses for the poor, which would turn them into “lakhpatis”

Stating that initial indicators of a “new world order” post-Covid had started to emerge, the Prime Minister said it was imperative for India to become self-reliant.

Stressing the importance of self-reliance, PM Modi said: “People, globally, want to see an empowered and strong India. It is imperative for us that we take our country forward at a rapid pace and strengthen it across several sectors.”

Fundamentals of economy strong

In 2013-14, public investment was just Rs1.87 lakh crore. In this year’s Budget, we have pegged it at Rs7.5 lakh crore. This is a four-fold increase from the UPA years. —Narendra Modi, PM

Putting aside the Opposition’s response, the Budget has been welcomed by all quarters, he said, adding that the Budget “focuses on providing basic amenities to the poor, middle class and youth”.

Asserting that migration from border villages was not good for national security, the PM said the Budget had provisions to develop “vibrant villages” on the border.

The decisions taken in the past seven years have expanded the Indian economy, he said, adding that India’s GDP 7-8 years ago was Rs 1.1 lakh crore while today it was nearly Rs 2.3 lakh crore.

The PM also said that the digital rupee, proposed in the Budget, could be exchanged for cash and would open new opportunities in the fintech sector. The central bank digital currency or the digital rupee would make online payments more secure and risk-free and boost digital economy in the years to come, he said.

“The digital rupee will be the digital form of our physical rupee and will be regulated by the RBI. The new system will enable exchange of physical currency with digital currency,” he said.

The PM said the Budget had allocated Rs 48,000 crore to build 80 lakh houses for the poor. “In the last seven years, we have given 3 crore poor people ‘pucca’ houses, and made them ‘lakhpatis’. Those who lived in slums, now have their own houses,” he said.

“Our government has increased the price and size of these houses so that there is enough space. Most of the houses are in the name of women,” the PM said.

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