Bengaluru, Jul 23 (IANS): Karnataka BJP President B. Y. Vijayendra said on Tuesday that the Union Budget 2024 lays the foundation of 'Naya Bharath' (New India).

He said a comprehensive and visionary Budget was presented by Union Finance Minister Nirmala Sitharaman, setting the stage for "Naya Bharath" over the next five years with a renewed emphasis on promoting investments, employment and social security.

Taking to social media platform X, Vijayendra said that the Budget focuses on women empowerment and women-led development, productivity and resilience in agriculture and improving the socio-economic condition of tribal communities.

The Budget's thrust is on inclusive human resource development and social justice, special incentives to Micro Small and Medium Enterprises (MSMEs) and manufacturing; upskilling of youths; technology to speed up digitisation of the economy and improving ease of doing business, he said.

It ensures labour reforms that include better mechanisms to connect job-seekers with employers and skill providers, the Karnataka BJP chief said.

It ensures infrastructure development with strong fiscal support over the next five years, the BJP leader said.

He said the Finance Minister announced a provision of Rs 1.5 lakh crore long-term interest-free loans for states this year.

He said that energy security, urban development schemes, with cities as growth hubs, investment-ready "plug and play" industrial parks in over 100 cities are the highlights of the Budget.