Union Budget 2020: Union Home Minister Amit Shah on Saturday said that the Union Budget 2020-21 will further the Modi government’s resolve to make India a USD-5 trillion economy. “In this budget, the Modi government has taken effective steps to rationalise the tax system, boost the basic infrastructure, strengthen the banking system, promote investment and ease of doing business, which will further Modi government’s resolve to make India a 5 trillion dollar economy,” he tweeted.
Shah added that the budget will contribute significantly in fulfilling the Modi government’s aim to double the income of farmers. Describing it as ‘Jan Jan ka budget’ (a Budget for everyone), he said that the relief in income tax will benefit the salaried class.
“The Modi government through this budget has provided a major and unprecedented relief in income tax to taxpayers of every category. Particularly, the middle-class salaried taxpayers will not only get to pat reduced tax but will also get relief from the simplification of tax system,” he said in another tweet.
Finance Minister Nirmala Sitharaman on Saturday presented the second budget of the Modi government’s second tenure. She announced an optional lower rate of income tax to individuals as she proposed new tax slabs of 15% and 25% in addition to the existing 10%, 20%, and 30%. The new slabs will be, however, available for individuals not availing certain exemptions.
Bharatiya Janata Party president JP Nadda also praised the Budget and said said it will ensure all-round development. “Prime Minister Narendra Modi ji has ensured all-round development of all sections of the society. The Budget 2020, presented today in the Parliament is the testimony of the vision of Narendra Modi ji for ‘New India’. I express my gratitude for our Prime Minister Narendra Modi ji and congratulate Finance Minister Nirmala Sitharaman ji and her team for the visionary and futuristic, growth-oriented and all-inclusive Budget,” he tweeted.
Senior BJP leader and Defence Minister Rajnath Singh also hailed the Union Budget, saying it will revive growth. “The first budget of the new decade presented by Finance Minister Nirmala Sitharaman gives an outline of a new and confident India. It is a promising, proactive and progressive budget which will make India healthy and wealthy in coming years,” he said.
Meanwhile, Uttar Pradesh Chief Minister Yogi Adityanath also congratulated PM Narendra Modi and Finance Minister Nirmala Sitharaman for presenting a pro-farmer budget. “I congratulate Prime Minister Modi and Finance Minister Nirmala Sitharaman for this development-oriented and pro-farmer budget. This Budget will further strengthen the economy,” he said.