PM Modi praises Nirmala Sitharaman for presenting a people-centric Budget

Prime Minister Narendra Modi has praised the Union Budget presented by Finance Minister Nirmala Sitharaman, calling it a “people’s budget” that will strengthen the economy. He described it as a "force multiplier" that will help increase savings, investment, consumption, and economic growth.

In his video address, Modi said the budget reflects the dreams and hopes of India’s 1.4 billion citizens. He highlighted that the budget is designed to support common people and youth. “This budget will make every citizen a part of India’s development journey,” he said.

Modi also addressed concerns about inflation and rising costs, which have affected the middle class. He emphasized that this budget focuses on improving the financial condition of ordinary citizens rather than just filling the government’s treasury. “This budget is about increasing people’s savings, improving their financial security, and making them partners in development,” he stated.

Key announcements for the Middle Class

One of the most important announcements in the budget was the increase in the income tax exemption limit to ₹12 lakh. Modi explained that this move would benefit people from all income groups, especially the middle class and newly employed individuals. By reducing the tax burden, the government aims to provide financial relief and encourage spending and investment.

This step is seen as an effort to regain support from the middle class, which has been a strong voter base for the Bharatiya Janata Party (BJP). Modi assured that the government is committed to reducing financial stress on citizens while promoting economic growth.

Another significant policy change in the budget was the government’s decision to promote the private sector in nuclear energy. Modi called this move “historic” and said that it would help in India’s energy development. Civil nuclear energy projects will now receive greater investment and technological advancement, boosting the country’s energy security.

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Strengthening infrastructure and employment

Employment generation has been a major focus of this budget. Modi highlighted that all key job-creating sectors have been given priority. The budget includes policies to strengthen the manufacturing sector, small businesses, and startups.

A major announcement was the decision to grant infrastructure status to shipbuilding. Modi said this would accelerate India's "Self-Reliant India" (Atmanirbhar Bharat) campaign. The shipbuilding sector is expected to receive more investment and growth opportunities. Additionally, this initiative will also benefit the tourism and hospitality industries, creating more jobs in these sectors.

The government has also taken steps to preserve India's cultural heritage. Modi reiterated the vision of “Vikas Bhi, Virasat Bhi” (Development with Heritage). The budget includes initiatives to protect over a million ancient manuscripts through the Gyan Bharatam Mission and the creation of a National Digital Repository. These measures will ensure that India’s rich cultural and historical legacy is safeguarded for future generations.

The budget has introduced major reforms in the agricultural sector. Modi said that farmers have always been at the center of the government’s policies. Under the PM Dhan-Dhanya Krishi Yojana, irrigation and infrastructure will be developed in 100 districts.

A major relief for farmers is the increase in the Kisan Credit Card limit from ₹3 lakh to ₹5 lakh. This move will provide farmers with greater financial assistance, helping them invest in better equipment and resources for their farms.

The budget has also focused on the growth of small businesses and the MSME (Micro, Small, and Medium Enterprises) sector. Modi emphasized that the budget will strengthen MSMEs, entrepreneurs, and small businesses to create new job opportunities.

To further support MSMEs and startups, the government has decided to double the credit guarantee for these businesses. Additionally, a new scheme has been introduced to provide loans of up to ₹2 crore without any guarantee. This scheme is specifically aimed at Scheduled Castes (SC), Scheduled Tribes (ST), and first-time women entrepreneurs, encouraging them to start and expand their businesses.

For the first time, gig workers will be registered on the e-Shram portal. This will allow them to access healthcare and other social security benefits. Modi said this reflects the government’s commitment to ensuring the dignity of labor.

Prime Minister Modi has positioned the budget as a major step towards economic growth and financial stability for all citizens. With a focus on tax relief, infrastructure, employment, and support for small businesses and farmers, the budget aims to strengthen India’s economy while improving the financial well-being of the common people. The government hopes that these measures will boost confidence in the economy and help India move closer to its development goals.