Budget has taken care of all sectors, will create New India: Modi

New Delhi, Feb 1 (IANS) Prime Minister Narendra Modi said on Friday that the interim Budget will empower the poor, the middle class, farmers, labourers, and traders besides imparting speed to economy and infrastructure for creation of 'New India'.

In his reaction to the Budget presented earlier in the day by Finance Minister Piyush Goyal, Modi said it will provide direct benefit to 12 crore farmers, three crore middle class tax payers and about 40 crore workers in the informal sector.

"It will give power to the poor, empower the farmers and traders, increase dignity of labourers, fulfil dreams of the middle class, celebrate the honest tax payer, accelerate infrastructure development and give new strength to economy. It will increase the confidence of the country. It will give new hope to 130 crore people of the country to achieve goals of New India," Modi said.

He said the Budget is "all encompassing and all inclusive" and is "dedicated to welfare of all."

THe Prime Minister said the Budget covers all sectors such as manufacturing, infrastructure, MSME, housing, healthcare and will boost economy.

"The Budget has taken care of all. Our policies have made a positive change in the lives of everyone," he said.

Modi said the efforts of government have led to a "record" in the speed of poverty reduction. More and more people were getting out of poverty and entering the middle and the neo-middle class, he said. "This big section is making their dreams come true and are accelerating development of the country. In this scenario the aspirations of middle class get a boost, get support -- the government has shown its commitment for that," he said.

The Prime Minister said that Ayushman Bharat has benefited 50 crore people, the Pradhan Mantri Jeevan Jyoti Yojana and Pradhan Mantri Suraksha Bima Yojana have benefited 21 crore poor, Swachh Bharat mission has benefited 9 crore families, Ujjawala scheme has given free gas connection to 1.5 crore families and 1.5 crore families have got permanent houses under the Pradhan Mantri Awas Yojana.

He congratulated the middle class, considered a supporter of the BJP, for relief in income tax rates.

"It is the liberal nature, honesty and law-abiding nature of the upper middle class and middle class due to which taxes are paid and welfare measures are taken for the poor."

Modi said there had been a demand for long to raise the income tax exemption limit to Rs 5 lakh and his government has done so.

He said that efforts by previous governments had only benefited two-three per cent of farmers but the PM-Kisan programme of his government will benefit 12 crore farmers who have land up to 5 acres.

"In one way, this is the biggest scheme for farmers since Independence. Our government is taking one step after the other for welfare of farmers," he said, adding that creation of separate departments for cow development and fishries will help farmers increase their income.