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February 1, 2021 | 15:00 IST
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Budget 2021 has boosted India's self confidence: PM Modi
This year's budget focuses on ease of living and it will spur growth: PM Modi
This year's budget is a proactive and not a reactive budget: PM Modi
The Prime Minister, Shri Narendra Modi has said that the Budget this year has feel of reality and confidence of development and showcases India’s self-belief. He also said that it will infuse a new confidence in the world in these difficult times.
In his remarks after the Union Budget was tabled in the Lok Sabha, the Prime Minister said that the Budget carries a vision of Aatamnirbharta and inclusion of every citizen and section. Shri Modi explained that the principles behind the Budget include – expansion of new opportunities for growth; new opportunities for the youth; giving new dimension to human resource; infrastructure development and helping new sectors grow.
The Prime Minister said that the Budget will enhance ‘ease of living’ for the common man by simplifying procedure and rules. The Budget will bring positive changes for individuals, investors, industry and infrastructure sector.
The Prime Minister noted the positive early response that the Budget received within hours of its presentation. He said, the Government gave proper attentions to its responsibility towards fiscal sustainability while increasing the size of the budget. He expressed happiness that transparency factor of the budget has been appreciated by the experts.
Stressing the proactive approach of the Government, whether during Corona pandemic or campaign for Aatamnirbharta, the Prime Minister noted that the budget doesn’t have an iota of reactive approach. “We have gone beyond active and have given a pro-active budget”, said the Prime Minister.
Appreciating the all-round development emphasis of the Budget, Shri Modi said that it is focused on wealth and wellness, MSME and infrastructure. He also noted unprecedented focus on healthcare. The Prime Minister expressed happiness that the Budget has taken into account the development needs of southern states, the Northeast and Leh Laddakh. He said this is a huge step in the direction of turning our coastal states like Tamil Nadu, Kerala, West Bengal into business powerhouse. The Budget will also be greatly helpful in tapping unexplored potential of the North-Eastern states such as Assam.
Mentioning the impact of the Budget on the various segments of society, Shri Modi said its emphasis on research and innovation will help the youth. Common men and women will be benefitted by stress on health, swachchta, nutrition, clean water and equality of opportunities. Similarly, enhanced allocation in infrastructure and procedural reforms will lead to job creation and growth.
The Prime Minister said that the Budget has many provisions for agriculture sector and increasing farmer’s income. Farmers will get easy and more credit. Provisions have been made for strengthening APMC and Agriculture Infrastructure Fund. “This shows that villages and our farmers are at the heart of this Budget” said the Prime Minister.
Shri Modi noted that MSME sector allocation has been doubled to improve employment opportunites. He said the Budget will lay a strong foundation for the new decade and congratulated the countrymen for a Budget for Aatamnirbhar Bharat.
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Prime Minister Shri Narendra Modi, today addressed the Republic Summit. Greeting the participants of the Summit, the Prime Minister congratulated the organisers for hosting a discussion on the theme "Great Power India: Nation First" at a time when the world is witnessing rapid and consequential developments.
Addressing the gathering, the Prime Minister underscored that the spirit of "Nation First" has been the guiding principle behind India's achievements over the past decade and its emergence as a trusted global power. Shri Modi observed that India is a civilization with a long historical memory and a unique ability to draw lessons from both progress and adversity. He remarked that the decisions and actions being undertaken today are laying the foundation for the country's future over the coming centuries.”The country has emerged not only as one of the world's fastest-growing economies but also as a credible and reliable partner. India's rise is founded on trust, stability and a commitment to the larger global good”, he noted.
Recalling his recent participation in the G7 Summit, the Prime Minister said that leaders across the world recognize India's unwavering commitment to the principle of Nation First. He added that this guiding philosophy continues to shape the country's policies, priorities and aspirations as it advances on the path of development.
Reflecting on the Government's 12 years in service, the Prime Minister stated that major national initiatives such as Swachh Bharat, Make in India, promotion of khadi, and the campaign for local products succeeded because citizens embraced the spirit of putting the nation first. Highlighting the transformative impact of this approach in tribal and Left Wing Extremism-affected regions, the Prime Minister said, “The areas once plagued by violence and underdevelopment are witnessing unprecedented progress. More than 12,000 kilometres of roads, over 9,500 mobile towers, banking facilities, post offices, and communication networks have been established in affected regions over the last decade”.
Shri Modi observed that Maoist violence, which had claimed thousands of lives in previous decades, is now in its final phase due to a combination of determined security efforts and accelerated development. “The growing success of the Bastar Olympics as evidence of the aspirations and talents of youth replacing the fear and uncertainty once associated with the region”, he pointed.
Emphasizing the rise of an aspirational India, Shri Modi said the country has moved from an era of pessimism to one of confidence and opportunity. He remarked that the belief that "change is possible" has become one of India's greatest strengths. “The Aspirational Districts and Aspirational Blocks Programme has transformed some of the country's most underdeveloped regions into drivers of growth. These efforts have contributed significantly to improving living standards and expanding opportunities for millions of citizens”, Shri Modi highlighted.
The Prime Minister said that the benefits of development extend beyond individual beneficiaries and contribute to the prosperity of society as a whole. “The emergence of a large neo-middle class, with nearly 25 crore people moving out of poverty in recent years, has strengthened economic activity and expanded opportunities across sectors. Poverty alleviation is not merely a welfare objective but also a catalyst for growth, aspiration and social mobility”, he remarked.
Highlighting the Government's focus on the middle class over the past decade, Shri Modi stated that improving the ease of living of middle-class families has remained a key priority. Referring to stalled housing projects, he stated that a special fund of ₹25,000 crore was created to facilitate the completion of delayed residential projects, resulting in the delivery of thousands of homes to homebuyers across the country. “Access to affordable housing finance, digital services and improved urban infrastructure has significantly enhanced the quality of life of citizens. Measures such as the Special Window for Affordable and Mid-Income Housing (SWAMIH) Fund have helped complete and deliver thousands of stalled housing units to homebuyers”, he emphasised.
The Prime Minister stated that there has been a significant expansion of India's transport and connectivity infrastructure over the last decade. “Metro rail networks now serve over one crore passengers daily, while initiatives such as Vande Bharat, Namo Bharat and Amrit Bharat trains are strengthening connectivity across the country. Expanded road networks, highways and airports have improved mobility and created new opportunities for citizens in both urban and emerging growth centres”, Shri Modi observed.
Referring to tax reforms, the Prime Minister highlighted measures aimed at increasing disposable income and reducing compliance burdens for taxpayers. He noted that simplified and technology-enabled tax administration, including faceless processes and online filing systems, has enhanced convenience and transparency.
The Prime Minister also underlined the Government's efforts to reduce healthcare expenditure for families through initiatives such as Jan Aushadhi Kendras, which provide affordable medicines, and health coverage for senior citizens under various welfare schemes. He observed that these initiatives have helped improve access to healthcare while reducing out-of-pocket expenditure for millions of families.
Referring to economic reforms aimed at benefiting the middle class, the Prime Minister noted that tax relief measures have significantly increased tax-free income thresholds, thereby enhancing disposable incomes. He also highlighted the simplification of tax administration through technology-driven reforms, including online filing systems and faceless assessment mechanisms, which have reduced compliance burdens and improved transparency.
Speaking on the changing aspirations of citizens, the Prime Minister remarked, ”India's development journey has created a culture of rising expectations, with people seeking better infrastructure, faster services and higher standards of living. These aspirations are a positive sign of confidence in the country's future and a reflection of citizens' belief that progress is achievable”.
The Prime Minister said that India's youth, entrepreneurs, innovators and start-ups are at the forefront of harnessing emerging opportunities in a rapidly changing global environment. He reiterated the Government's commitment to reforms, innovation and citizen-centric governance, guided by the principle of Nation First. Shri Modi contrasted the aspirations of a rapidly developing India with what he described as a section of political discourse marked by persistent negativity and opposition. He observed that while citizens increasingly seek better infrastructure, technology, connectivity, and opportunities, some groups oppose developmental initiatives even as they demand the outcomes they produce. Emphasizing the importance of constructive participation in nation-building, the Prime Minister called upon citizens, particularly the youth, to remain focused on India's development goals and the principle of Nation First.
The Prime Minister concluded that the world is witnessing unprecedented disruptions that challenge traditional paradigms while simultaneously creating new opportunities for growth and innovation. He called upon India’s youth, entrepreneurs, innovators, and startups to seize these opportunities and contribute to the nation’s progress. “The Government stands firmly with the people in this transformative journey. The country is firmly on the path of accelerated development and this momentum will continue to strengthen”, Shri Modi reiterated. The Prime Minister expressed confidence that the collective efforts and aspirations of 1.4 billion Indians would realise the vision of a Viksit Bharat, and extended his best wishes to all citizens.
