Prime Minister Narendra Modi on Tuesday said that Union Budget 2024-25 empowers every section of the society with a focus on inclusive growth. He emphasised that it puts strong focus on both manufacturing and infrastructure development and that the \u201cIncentive-Linked Employment\u201d scheme will create \u201ccrores of jobs\u201d.<\/p>\n
Noting that over the last ten years, 25 crore people have been lifted out of poverty in the country leading to the emergence of \u201cneo-middle class\u201d, he said, \u201cBuilding on this momentum, this budget will further energise the aspirations of our neo-middle class. Unprecedented opportunities will be unleashed for our younger generation.\u201d<\/p>\n
The Prime Minister added that this budget will act as a catalyst in making India the world\u2019s third largest economic power and lay the foundation of \u2018Viksit Bharat.\u2019<\/p>\n
\u201cThis Budget with its new schemes is aimed at empowering the middle-class, tribals, dalits and lower socio-economic groups. It brings a new scale to education and skill development,\u201d he added. Modi stressed that this year\u2019s Budget would ensure economic opportunities for women while also laying down a new path for small businesses and MSMEs. \u201cThe Union Budget gives a fillip to manufacturing as well as infrastructure development,\u201d he added. <\/p>\n
\nIncentives galore
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The PM said after introducing the PLI scheme, the Centre is now bringing the \u201cEmployment-Linked Incentive\u201d scheme which will create \u201ccrores of jobs.\u201d He also pointed out that the provisions for higher education and the scheme for internships for 1 crore youth. \u201cWorking in the top companies under this scheme, will open new avenues of opportunities for youngsters,\u201d the Prime Minister said. <\/p>\n
Pointing out to announcement of raising the limit of collateral-free loans under the Mudra Loan from \u20b910 lakh to \u20b920 lakh, he said these measures will greatly benefit small businessmen, women, dalits, backwards and deprived. \u201cIt will create entrepreneurs in every city, every village and every home,\u201d Modi added.
Stating that the \u201cfarmers\u201d are a big focus for the government, the PM pointed out that schemes such as development of \u2018Vegetable Production Clusters\u2019 will help farmers in getting better prices for their crops while enhancing the availability of fruits and vegetables in the country. \u201cIt is the need of the hour for India to become self-reliant in the agricultural sector. Therefore, measures have been announced to help farmers increase the production of pulses and oilseeds,\u201d he added.<\/p>\n
\nPropelling growth
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Highlighting the record numbers in defence exports, the Prime Minister stated that this year\u2019s Budget has presented many provisions aimed at creating an \u2018aatmanirbhar\u2019 defence sector.<\/p>\n
PM Modi said that in the last 10 years, the government has ensured tax relief for the poor and the middle-class. He said decisions of reduction in income tax, hike in standard deduction and simplification of TDS rules will lead to additional savings for allow taxpayers. <\/p>\n
The Prime Minister stated that the overall development of the eastern region of India will get new momentum and energy through the \u2018Purvodaya\u2019 vision. \u201cNew impetus would be given to the development of important infrastructures like highways, water projects and power projects in eastern India\u201d, he added.<\/p>\n