New Delhi, Feb 1 (IANS): Prime Minister Narendra Modi on Saturday praised the Union Budget 2025, emphasising that it not only meets India's present needs but also prepares the nation for the future.
He highlighted the Budget's benefits for the middle class, farmers and entrepreneurs, calling it a crucial step towards economic growth.
"In this Budget, income up to Rs 12 lakh per annum has been made tax-free. Tax reductions across all income groups will provide immense relief to the middle class. It will also create great opportunities for young professionals who have recently entered the workforce," PM Modi said.
He highlighted the Budget's provisions for farmers, stating that the 'PM Dhan Dhanya Krishi Yojana' will lead to a new revolution in the farm sector and strengthen the rural economy.
"Irrigation and infrastructure development will take place in 100 districts under this scheme. Additionally, the Kisan Credit Card limit has been raised to Rs 5 lakh, ensuring more financial support for farmers," he noted.
Focussing on manufacturing and job creation, the Prime Minister stressed the Budget's "360-degree approach" to strengthening entrepreneurs, MSMEs, and small businesses.
"From the National Manufacturing Mission to industries like CleanTech, leather, footwear, and the toy industry, multiple sectors have received special support. Our goal is for Indian products to shine in the global market," he stated.
Underlining efforts to boost investment at the state level, PM Modi said, "A vibrant and competitive investment environment will emerge across states due to special provisions in this Budget. Additionally, the credit guarantee for MSMEs has been doubled."
He pointed out the Rs 2 crore loan initiative for Scheduled Tribes (ST), Scheduled Castes (SC), and women entrepreneurs and the major reforms for gig workers.
"For the first time, gig workers will be registered on the e-Shram portal, allowing them to access health and social security benefits. This reflects our government's commitment to the dignity of labour and the 'Shramev Jayate' mantra," he said.
The Prime Minister further highlighted initiatives aimed at fostering innovation and technology-driven growth, stating, "To support startups, we have introduced the Deep Tech Fund, Geospatial Mission, and Nuclear Energy Mission. These steps will shape the future of India's economy."
Concluding his remarks, PM Modi called the Union Budget a "historic people's budget" and extended his gratitude to Finance Minister Nirmala Sitharaman.
"This Budget is a force multiplier for India's growth, and I congratulate every citizen for being part of this transformative journey," he said.