Union ministers hail interim Budget saying charts pathway for fully developed, economically robust India

The Union ministers praised the budget on expected lines, even as Prime Minister Narendra Modi talked of a "sweet spot".

BySouth First Desk

Published Feb 01, 2024 | 6:01 PMUpdatedFeb 01, 2024 | 6:02 PM

Sitharaman speaking in the parliament

Prime Minister Narendra Modi and Union ministers hailed the interim Budget presented by Finance Minister Nirmala Sitharaman on Thursday, 1 February, asserting that it charts a definitive pathway for a fully developed and economically robust India by 2047.

Modi said the interim Budget offers the “guarantee” of strengthening the foundation of a developed India and carries the “confidence of continuity”.

In a televised address following the budget, he said it would empower the four pillars of developed India — the young, poor, women and farmers.

“This is a budget of creating India’s future,” Modi said, adding that it reflects the young aspirations of a young India.

While keeping the fiscal deficit under control, the prime minister noted that total expenditure has seen a historic increase to Rs 11,11,111 crore in this budget.

“In economists’ parlance, this is a kind of sweet spot,” Modi said.

He said it would create millions of new employment opportunities for India’s youth along with the creation of modern infrastructure for the 21st century.

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‘Vision of a developed Bharat by 2047’

Union Home Minister Amit Shah said the interim budget 2024-25 draws the roadmap to achieve Prime Minister Narendra Modi’s vision of a developed Bharat by 2047.

Shah also said the budget speech sheds light on the milestones achieved by the Modi government in the last 10 years in its journey to make Bharat the foremost nation in every sector.

“The Union Budget draws the roadmap to achieve PM Shri @narendramodi Ji’s vision of a Developed Bharat by 2047. The budget speech sheds light on the milestones achieved by the Modi govt in the last 10 years on its journey to make Bharat the foremost nation in every sector during the Amrit Kaal, [sic]” Shah said on X (formerly Twitter) with the hashtag #ViksitBharatBudget

“On the very foundation of these feats, the magnificent edifice of a Viksit Bharat is being built. My heartfelt gratitude to Modi Ji for leading the nation through this journey of excellence and to FM @nsitharaman Ji for the insightful budget speech [sic],” he added.

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‘Vision for a confident, strong, self-reliant Viksit Bharat’

Union minister Rajnath Singh said the interim Union Budget outlines the vision for a “confident, strong and self-reliant Viksit Bharat”, and asserted that he was assured that the size of the Indian economy will grow to more than $5 trillion by 2027.

In a post on X, he also said there is something in this Budget for “every section of the society”.

“This is an interim Budget. But this interim Budget that she has presented is very encouraging and also raises hope for the way ahead. And the size of India’s economy at this time… I am assured that whatever indications we have received from this Budget, the size of our economy, which is in the top five counties right now, will grow to more than $5 trillion by 2027. By 2030, it will grow to more than $7 trillion,” Singh told reporters outside Parliament.

Asked about the roadmap laid down by the government for 2047, he said, “We will reach that target. We are fully confident.”

Union minister Nitin Gadkari said interim Budget 2024-25 will propel India’s rapid transformation into an economic superpower.

“This inventive budget aligns seamlessly with PM Modi Ji’s commitment to uplift farmers, women, youth, and the underprivileged,” he posted on X.

With a clear roadmap for inclusive development, the budget caters to diverse interests of the society, emphasizing infrastructure growth for a new India, he added.

The road transport and highways minister said this budget reaffirms the government’s dedication to achieving the #Bharat2047 goal and marks a pivotal step in a transformative journey of the country.

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‘Developed a Vishwaguru’

Terming the interim budget “progressive”, veteran BJP leader BS Yediyurappa on Thursday complimented her for presenting a realistic budget that will improve the standard of living of people.

The former Karnataka chief minister said the budget reaffirms the commitment of the BJP government towards building a strong, empowered, developed and “Vishwaguru” India in the coming days, which will complement the progress of the country.

“Hearty congratulations to the Finance Minister Nirmala Sitharaman, who has presented the country’s ‘progressive budget’ to further strengthen the country’s economy, and towards realisation of Prime Minister Narendra Modi’s concept of Navabharat,” Yediyurappa posted on social media platform X.

“Without presenting the budget of pre-election popular slogans, through this interim budget, the Union Finance Minister has presented a realistic budget that will improve the standard of living of our youth, farmers, women and especially the backward and vulnerable sections of the people, creating new hope and opportunities,” he added.

Sitharaman today presented her sixth straight budget ahead of the Parliamentary elections, matching the record of former Prime Minister Morarji Desai.

Presenting a vote on account or an interim budget for 2024-25, she proposed no changes in income tax rates for individuals and corporates, and customs duty.

In less than an hour-long budget speech, she presented the Modi government’s achievements in the last 10 years that transformed India from being a ‘fragile’ economy to the world’s fastest-growing major economy.

(With PTI inputs)