A farmer friendly, common citizen friendly and development friendly budget : PM


Congratulating Finance Minister Shri Arun Jaitley for the Budget, Prime Minister Shri Narendra Modi said “This budget strengthens the foundation stone of New India. The budget focus is on issues ranging from agriculture to Infrastructure. On one hand, budget covers aspects such as health plans to address the concerns of the poor and middle class, while on the other hand it has plans to increase the wealth of small entrepreneurs in the country. Other aspects range from food processing to fiber optics, from road to shipping, concerns of youth and the senior citizens, from rural India to Ayushman India and Digital India to Start up India.”

He added “Our farmers have contributed in a big way towards the progress of the country with a record production of fruits and vegetables. Several steps have been proposed in this budget to give a boost to the farmers and enhancing their income. A record allocation of Rs. 14.5 lakh crores has been made for rural development and agriculture. Dalits, oppressed and disadvantaged sections of the society will be benefited with out of 51 Lakh new homes, more than 3 lakh kilometers of roads, about 2 crore toilets, electricity connections in 1.75 crore households. These initiatives will create new opportunities especially in the rural areas. He said, In our country, the cooperative societies are exempted from paying income tax. But the ‘Farmer Producer Organization’ -FPO, that is similar to the cooperative societies, does not get this benefit. Therefore, income tax exemption for the ‘Farmer Producer Organization’ -FPO, which mint for the welfare of the farmers, is a welcome step. By providing the linkages between the Self Help Groups for women engaged in organic, aromatic and herbal cultivation and the ‘Farmer Producer Organizations’ the income of the farmers will be increased. Similarly, the Gobar-Dhan Yojana will help in keeping the village clean, while increasing the income of farmers and cattle herders.

He added Ujjwala Yojana has not only provided a relief to the poor women from the smoke but also become a huge source of their empowerment. I am happy to note that the target for Ujjawala has been enhanced from 5 crore families to 6 crore families. A large number of dalit, tribal and backward class families have been benefited from this scheme. This budget provides for allocation of about Rs 1 lakh crores for the welfare of scheduled castes and scheduled tribes.

He said “The new scheme ‘Ayushman Bharat’, presented in the budget, will address this serious concern. This scheme will be available to nearly 10 crore poor and lower middle class families of the country. It means it will provide coverage to 45-50 crore people.”

“For a long time, the small and medium enterprises or the MSME in our country had to pay higher taxes than the big industries. In a bold move in this budget, the government has reduced the tax rate for MSME by 5% now they will have to pay 25% tax in place of 30% which was the practice earlier” he added.

In order to realize the dream modern India, to enhance the Ease of Living of the common man and to ensure stability in development, India requires a Next Generation Infrastructure. Special emphasis has been given to the development of infrastructure related to Digital India. Allocation of Rs. 6 lakh crores has been made which is Rs. 1 lakh crore more than the previous year. These schemes will enhance the employment opportunity manifold in country. He also congratulated the Finance Minister for the tax concession to the salaried and the middle class.