‘Union Budget 2022 people friendly and progressive’, says PM Modi

Published on Feb 01, 2022 03:18 PM IST

Union Budget 2022: PM Modi also congratulated finance minister Nirmala Sitharaman and her team for keeping in mind the welfare of the poor as well as laying equal emphasis on modern internet connectivity.

Prime Minister Narendra Modi has hailed the Budget presented by finance minister Nirmala Sitharaman.
Prime Minister Narendra Modi has hailed the Budget presented by finance minister Nirmala Sitharaman.
By | Written by Amit Chaturvedi, Hindustan Times, New Delhi

Prime Minister Narendra Modi on Tuesday called the Union Budget “people friendly and progressive”. He further said that the financial document presented by Union finance minister Nirmala Sitharaman is full of new possibilities of more infrastructure, more investment, more growth, and more jobs.

Union Budget 2022: Full Coverage

“This Budget has brought a new confidence of development in the midst of 100 years of terrible calamity (Covid-19). This Budget, along with strengthening the economy, will create many new opportunities for the common man,” PM Modi said.

“An important aspect of this budget is the welfare of the poor. Every poor person should have a pucca house, water from tap, toilet, gas facility, all these have been given special attention. Simultaneously, there is an equal emphasis on modern internet connectivity,” he added.

The Prime Minister also said that the reactions from the common people has given the ruling Bharatiya Janata Party (BJP) a renewed resolve to serve them.

PM Modi said this is happening for the first time in the country that the Parvatmala scheme is being started for such areas as Himachal, Uttarakhand, Jammu and Kashmir, North East. “This plan will build a modern system of transportation on the mountains,” he said.

Union Budget 2022 in numbers: Covid spending, fiscal deficit and GST collection

The remarks came hours after finance minister Nirmala Sitharaman presented her fourth straight Budget in the Lok Sabha. She began her speech by expressing empathy with those who were affected by the adverse health and economic effects of the Covid-19 pandemic and said the Budget will lay a roadmap for the next 25 years of the Indian economy.

With the $529.7 billion Budget, Sitharaman stepped up investment on highways and affordable housing to put growth on a firmer footing as the economy recovers from the pandemic.

The government has projected GDP growth at 8% to 8.5% compared with an estimated 9.2% for the current fiscal year and a 6.6% contraction the previous year.

Also Read | Big announcement made by Nirmala Sitharaman in Budget

Union home minister Amit Shah hailed the Union Budget 2022 as 'visionary' and said it will help making India the world's leading economy under the leadership of Prime Minister Narendra Modi.

The industry too reacted in a positive way to the Budget.

"The fiscal outcome is broadly in line with our expectations with the government having its focus on infrastructure and rural demand. As expected, the government has refrained from a sharp consolidation. While the fiscal expansion is expected to be pro-growth, the heavy supply is expected to worry the bond markets," Upasna Bhardwaj, senior economist at Kotak Mahindra Bank in Mumbai, was quoted as saying by news agency Reuters.

The opposition, meanwhile, slammed the financial document, saying it has nothing for the middle class or farmers.

“The Budget is only for the rich, it has nothing for the poor. It's Arjuna and Dronacharya's budget, not Eklavya's (in a reference to Mahabharata). They also mentioned cryptocurrency, which doesn't have any law, nor has it been discussed before. The Budget is benefitting their friends,” Congress leader and Leader of Opposition in the Rajya Sabha Mallikarjun Kharge said.

Former Congress president Rahul Gandhi called it a “zero sum budget”.

"M0di G0vernment’s Zer0 Sum Budget! Nothing for - Salaried class - Middle class - The poor & deprived - Youth - Farmers - MSMEs," he wrote on Twitter.

Janata Dal (United) leader Upendra Kushwaha said that the Budget ignored states like Bihar. “The Union Budget is historic for developed states, but disappointing for #बिहार. Finance Minister Smt. @nsitharaman ji has disappointed all of us Biharis by ignoring the demand for #विशेष_राज्य status to Bihar,” he posted on micro-blogging platform Koo.

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