Prime Minister Narendra Modi gave the Budget a thumbs-up on Saturday, saying it would further reignite India’s growth engine and signal the dawn of a prosperous future for the country.
“From housing for all, jobs, health, education & total electrification, FM laid down goals to be achieved by 2022, India's Amrut Mahotsav,” the PM tweeted, as finance minister Arun Jaitley unveiled grand plans to put a roof over every Indian’s head before India’s 75th Independence Day.
“Union Budget 2015 is a Budget with a clear vision. It is a Budget that is progressive, positive, practical, pragmatic & prudent,” Modi tweeted.
Other proposals were also received positively by the PM, who said the Budget had distinct focus on farmers, youth, poor, neo-middle class & the “Aam Nagrik” (common citizen). “It delivers on growth, equity & job creation,” he wrote on the microblogging site. Jaitley announced a raft of measures to prop up the social sector and bring more Indians under insurance and pension covers. He also increased allocation for the UPA’s flagship rural employment programme, MNREGA.
“Suraksha Bima Yojana, Atal Pension Yojana, Jeevan Jyoti Bima Yojana, Vidya Lakshmi Karyakram mark a shift from Jan Dhan to Jan Kalyan (welfare of the people),” Modi wrote on Twitter, a reference to a slew of insurance and pension projects that aim to insure Indians at nominal premium charges.
The PM congratulated the finance minister for the tough measures announced to curb black money. “Details of the Black Money law being introduced demonstrates our firm commitment to bring back every Rupee of Black Money stashed abroad,” Modi tweeted. The Budget announced plans to disincentivise cash transactions and a new law to tackle illegal money that would include rigorous imprisonment up to 10 years for defaulters.
The Budget also focussed on the eastern and northeastern states with Jaitley saying Bihar and West Bengal would be the biggest beneficiaries of the finance commission’s recommendations to increase the state’s share in revenues. Bihar and West Bengal would also be given special assistance, the FM said.
“Budget indicates our commitment to ensure that development of Eastern & Northeastern parts of India gets an impetus & drives future growth,” the PM tweeted.