Prime Minister Narendra Modi on Wednesday lauded the ‘first budget of Amrit Kaal’ saying that it will build a strong foundation for a developed India.
“First budget of Amrit Kaal will build a strong foundation for building a developed India. This budget will fulfil dreams of aspirational society including poor people, middle-class people, farmers,” Modi said in a televised address.
Finance Minister Nirmala Sitharaman presented Union Budget 2023-24 today, and stuck to a broader growth strategy that she unveiled in 2019-20. In the Union Budget, the main focus are were to incentivise the private sector so has to create a healthy economy for job growth, fiscal prudence, and new personal income tax regime.
The PM said that the Union Budget focuses on a sustainable future, green growth, green economy, green infrastructure and green jobs.
He also said that the Budget promotes “ease of doing business” and has also accelerated credit support and reforms for industries.
An additional loan guarantee of Rs 2 lakh crore has been arranged for MSMEs, and with increasing the limit of presumptive tax, it will help MSMEs to grow, the PM said.
“In order to empower the middle class, our government has taken many decisions in the past years and has ensured Ease of Living. We have reduced the tax rate and have simplified the process,” Modi said.