Breaking : PM Modi declares that the Union Budget for 2022 is "people-friendly and progressive" | Hot News

PM Modi also praised Finance Minister Nirmala Sitharaman and her team for prioritising the welfare of the poor while also emphasising the need of contemporary internet access in the Union Budget 2022.

On Tuesday, Prime Minister Narendra Modi hailed the Union Budget as "people-friendly and progressive." He went on to say that Union Finance Minister Nirmala Sitharaman's budget blueprint is full of new opportunities for additional infrastructure, investment, growth, and jobs.

"In the middle of a century of tremendous catastrophe, this Budget has offered a new sense of hope for growth" (Covid-19). "This Budget will generate many new chances for the common man, in addition to improving the economy," Prime Minister Modi added.

"The wellbeing of the impoverished is a key part of our budget. Every impoverished individual should have a pucca house, running water, a toilet, and access to gas, all of which have been given special consideration. Simultaneously, modern internet connectivity is given similar weight," he noted.

The Prime Minister further stated that the public's reaction has strengthened the ruling Bharatiya Janata Party's (BJP) desire to serve them.

PM Modi stated that the Parvatmala programme is being implemented for the first time in the country in Himachal Pradesh, Uttarakhand, Jammu & Kashmir, and the North East. "This idea will create a sophisticated transportation infrastructure in the highlands," he stated.

The comments came only hours after Finance Minister Nirmala Sitharaman presented the Lok Sabha with her fourth consecutive Budget. She opened her statement by expressing sympathy for people who have been affected by the Covid-19 pandemic's negative health and economic impacts, and she stated that the Budget will put out a blueprint for the Indian economy's next 25 years.

Sitharaman increased investment in highways and affordable housing in the $529.7 billion Budget to put the economy on a more solid basis while it recovers from the pandemic.

GDP growth is expected to be between 8% and 8.5 percent this fiscal year, compared to an estimated 9.2 percent this fiscal year and a 6.6 percent decrease the previous year.

Amit Shah, the Union Home Minister, praised the Union Budget 2022 as "visionary," saying it will contribute to Prime Minister Narendra Modi's goal of becoming India the world's largest economy.

The budget received a favourable response from the industry as well.

"With the government focusing on infrastructure and rural demand, the budgetary outcome is roughly in line with our forecasts. The government has resisted a drastic consolidation, as expected. While the fiscal expansion is considered to be pro-growth, bond markets are likely to be concerned "According to news agency Reuters, Upasna Bhardwaj, senior economist at Kotak Mahindra Bank in Mumbai.

Meanwhile, the opposition has attacked the financial document, claiming that it does not benefit the middle class or farmers.

"There is nothing in the budget for the poor; it is exclusively for the wealthy." The budget belongs to Arjuna and Dronacharya, not Eklavya (in a reference to Mahabharata). They also brought up cryptocurrency, which is unregulated and has never been discussed before. "The Budget benefits their buddies," said Mallikarjun Kharge, the Congress politician and Leader of the Opposition in the Rajya Sabha.

Rahul Gandhi, the former Congress president, referred to it as a "zero sum budget."

"The Zer0 Sum Budget of the M0di G0vernment! There is nothing for the salaried class, the middle class, the destitute and impoverished, the youth, farmers, and small businesses "He expressed himself on Twitter.