PM Modi said that the Income-tax remission scheme will provide relief to 1 crore people from the middle-class.
PM Modi (ANI Photo)
The Interim Budget 2024 gives the guarantee of making India a developed nation by 2024, said Prime Minister Narendra Modi on Thursday.
In a short address to the nation after the budget, PM Modi said, “This budget has a reflection of the young aspirations of a young India. Two important decisions were made within the Budget. For research and innovation, a fund of ₹1 Lakh Crore has been announced.”
The prime minister said that the budget is inclusive and innovative and that it will empower all four pillars of Viksit Bharat.
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“This interim budget is inclusive and innovative. It has confidence of continuity. It will empower all 4 pillars of Viksit Bharat- Yuva, Garib, Mahila and Kisan. This Budget gives the guarantee of making India a developed nation by 2047,” PM said.
He further added, “Income-tax remission scheme will provide relief to 1 crore people from the middle-class. In this budget, important decisions have been taken for the farmers.”
In what was the last budget of the Modi government before Lok Sabha polls, Union Finance Minister Nirmala Sitharaman announced several new schemes and intiatives by the government to boost overall economic growth and development in the country.
“Our government will launch a scheme to help deserving sections of middle class to buy or build their own houses,” she said.
Besides, Sitharaman said that key rail infrastructure projects including Metro Rail and Namo Bharat will be expanded to more cities and around 40,000 rail bogies will be converted to Vande Bharat coaches.
In order to boost the private sector research in sunrise sectors, the government had decided to provide long term loans of Rs 1 lakh crore at minimal or zero interest rates.
“A corpus of Rs 1 lakh crore with 50-year interest free loans will provide long term financing at low or nil interest rates for the private sector to scale up research in sunrise sectors,” she announced.
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