PM Modi said his government has focused on reducing the tax burden.
Prime Minister Narendra Modi today said the Union Budget 2024 will benefit all sections of society and lay the foundation for a developed India.
"This Budget will empower all sections of the society. It will benefit gaon, gareeb, kisaan (village, poor, and farmers). It will give a new scale to education and skill, and open new avenues for the youth. This budget will give new strength to the middle class," said the Prime Minister.
Finance Minister Nirmala Sitharaman unveiled the Budget in the Parliament this morning. Speaking after the presentation, the Prime Minister said it would give an unprecedented push to jobs.
"This Budget is women-focused and will help towards women-led development and more participation of women in the overall workforce. It is development-focused and has increased investment in infrastructure," he said.
This Budget will act as a catalyst to ensure India becomes the third largest economy globally in the next few years, said PM Modi. Making India the third largest economy has been a major election promise of the BJP, which returned for a third term with the help of some coalition partners.
PM Modi said his government has focused on reducing the tax burden by updating the rules under the new tax regime.
He also hailed the government's plans for the all-round development of eastern India and said, "The holistic development of eastern India will get the impetus it needs from the Purvi Bharat development plan."
"Rs 1,000 crore towards space sector development, angel tax being abolished, creation of new satellite towns, new transit plans, etc, will take India towards its goal of a developed nation and create economic hubs across India," he added.
The PM further said the Budget offers new opportunities to startups and the innovation ecosystem. "We need to create entrepreneurs at the city, town, village, and home level. We need entrepreneurs to emerge in every home. We aim to make India a global manufacturing hub," said PM Modi.