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Prime Minister says Union Budget 2020 focuses on economic empowerment of every citizen

Published By : Admin | February 1, 2020 | 16:57 IST
New reforms announced in the Budget will give a boost to the economy: PM
Budget aims at the economic empowerment of every citizen in the country: PM Modi
The Union Budget adopts an integrated approach for the Agriculture sector: PM Modi

Prime Minister Shri Narendra Modi today termed the Union Budget 2020 as a one based on vision and action oriented.

In his remarks after the Union Budget was tabled in the Lok Sabha, the Prime Minister said, “The new reforms announced in the Budget not only give a boost to the economy but also aim at the economic empowerment of every citizen in the country.”

“This budget also works towards further strengthening the economy in the new decade”, he said.

Focus on Employment Generation:

Prime Minister said the Budget 2020 focuses on major employment generating sectors viz Agriculture, Infrastructure, Textiles and Technology.

 “The 16 Action Points will help in doubling the farmers income along with increasing the employment generation in the Rural Sector”, he said.

“The Union Budget adopts an integrated approach for the Agriculture sector, where the focus apart from Traditional means of cultivation is also on increasing the value addition in horticulture, fisheries and animal husbandry and this in turn would increase employment”, he said.

“The efforts in blue economy would bring about more employment to the youth in fish processing and marketing”.

Textile Sector

Prime Minister said there was a decision on the new machines in the technical textiles.

He said Budget also announced the reforms in the raw material duty structure so as to increase the production of man-made fibre in India. Prime Minister said, there was a demand for this reform for the last 3 decades.

Health Sector

Prime Minister said, “The Ayushman Bharat programme has expanded the health sector in the country. This has expanded the scope for more human resources, whether of doctors, nurses or attendants, along with the need for manufacturing of medical devices in the country. And the Government has taken several decisions in this direction”

Technology Sector

Prime Minister said that the Government has taken several special measures to improve the employment generation in the Technology sector. “We have taken several policy initiatives with regard to Smart Cities, Electronic Manufacturing, Data Centre Parks, Bio-Technology and Quantum Technology. With this India would become an integral part of the global value chain”

“Budget focuses skill development of the youth through new and innovative initiatives like apprenticeship in Degree Courses, Internship in Local Bodies and online degree courses”, he said.

Saying that MSME and Export sectors are a source of employment generation, he said, the budget focuses on increasing exports along with financing of small scale industries.

Infrastructure

A modern India needs modern infrastructure and the sector is a great employment generator, he said.

“Over 100 Lakh Crore rupees is being invested in over 6500 projects and this would create a massive employment generation potential. The national logistics policy would also aid in trade, industry and employment”, he said.

“The announcement to develop 100 new airports would give a boost to tourism in the country and along with a huge potential for employment generation” he said.

Investment

Prime Minister said the budget has taken several historic steps to boost investment which is a major driver for employment.

“Several steps have been taken to strengthen the bond market and long term financing of Infrastructure projects. Similarly with the abolition of Dividend Distribution Tax, companies would be having over Rs 25000 Crores for further investment.”

“Also to attract FDI many tax concessions were announced”, he said.

“Similarly tax benefits were provided to start ups and the real estate sector too”, he said.

Focus on Trust in Taxation

Prime Minister said that the Government is creating an atmosphere where there would be no disputes but trust in the Income Taxation.

“Even small mistakes were considered criminal in the Company Law, now we have taken a major decision to de-criminalise such acts”

“We are launching the Taxpayer Charter, which would list out the rights of the tax payers”.

In the same direction to increase the trust, the Prime Minister said the Budget announced that now it is not mandatory to audit those MSME’s who turn over is up to Rs 5 Crores.

“Earlier this limit was up to Rs 1 Crore, but now it has been increased to Rs 5 Crores”, he said.

Unified Exam for Government Jobs

“As of now the youth in the country have to take different exams for different government jobs. Bringing about a systemic change in this, the National Recruitment Agency will now hold one online common exam for recruitment to various jobs either for banks, railways or any other government job”, he said.

Minimum Government Maximum Governance

Prime Minister said the steps such as Faceless Appeal, Simplified Direct Tax, Efforts to step up disinvestment of PSUs, Unified Procurement System, Auto Enrolment are all aimed at Minimum Government & Maximum Governance.

Ease of Doing & Ease of Living

Further Prime Minister said the Budget announced the linking of Anganwadis, Schools, Wellness Centres and Police Stations in over One Lakh Gram Panchayats through Broadband Internet.

He said this would help in “Ease of Doing & Ease of Living”.

“This would connect several remote villages also through broadband”, he said.

He summed up the Union Budget 2020 as one that strengthens Income and Investment, Demand & Consumption; one that would bring in new inspiration into the Financial System & Credit Flow.

 

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Amid a massive gathering in Ernakulam today, Prime Minister Narendra Modi said the enthusiasm and confidence of the people reflected a strong aspiration for Keralam’s development and a new political direction in the state. He emphasised that the aspirations of the people clearly indicate a desire for faster growth and new opportunities.

Expressing confidence in the people’s mandate, PM Modi said, “The 21st century is a crucial time for Keralam. The state needs a new future and a new beginning. I am happy that the people of Keralam have decided to come out of the cycle of LDF and UDF. The confidence visible in this massive public meeting shows that people are ready for change.”

Highlighting the vision of a double-engine government, He stated Keralam possesses immense natural and human potential. He noted that the state has nature, culture, talent, technology and the blessings of the vast sea. However, he remarked that despite these strengths, development had not progressed at the desired pace due to alternating governments and political patterns that slowed long-term progress.

Calling for a new political direction, PM Modi iterated, “For rapid development, this pattern must change. You have given Congress and the Left more than seventy years. Now give BJP-NDA the next five years and you will see the vision of a Viksit Keralam take shape. You have Modi’s guarantee, what has not changed until now will change and Keralam will move forward.”

The Prime Minister said the vision of BJP-NDA is to position Keralam as a global hub for wellness, tourism and cultural experiences. He said, “For a Viksit Keralam, we must create new opportunities in tourism, talent and technology. The youth of Keralam have tremendous capability, and they should lead new sectors like startups, innovation and emerging technologies.”

Highlighting economic priorities, the PM stated, “Our government has ensured financial support and security for fishermen. Fishermen have been provided access to credit through the Kisan Credit Card and insurance coverage of up to five lakh rupees. Major projects like the Vizhinjam International Seaport show our commitment to strengthening the Blue Economy.”

Addressing concerns related to developments in the Gulf region, PM Modi said the government remains fully committed to the safety and welfare of Indian citizens working abroad. “Whenever any Indian citizen has faced danger anywhere in the world, India has made every effort to bring them back safely. Our embassies and missions are working round the clock to ensure help, food, medical care and support for our people,” he said.

“Whether it was rescuing nurses trapped in Iraq or securing the release of Father Tom from terrorists in Yemen, today’s India does not leave its citizens alone in times of crisis. We also brought Father Alexis Prem Kumar safely back from Afghanistan. Even today, our effort is to ensure safety and every possible assistance for Indians caught in difficult situations,” he added.

Coming down heavily on the Congress, PM Modi said, “It is unfortunate that even in such a serious global situation, the Congress party is indulging in politics. Congress leaders are making provocative statements so that the situation worsens, our people face difficulties and then they can start a campaign of abusing Modi.”

Highlighting the importance of self-reliance, PM Modi said, “India is continuously working to become self-reliant in the energy sector. Solar power capacity is expanding, electric mobility is being promoted and railway electrification is progressing rapidly. These steps are strengthening India’s long-term energy security.”

“On one hand, the BJP-NDA government is working tirelessly to make India self-reliant. On the other hand, Congress and the Left are busy mocking the Aatmanirbhar Bharat campaign. When they were in power, they only increased the country’s dependence on foreign nations. Even today, at a time when the world is facing conflict, Congress, the Left and their ecosystem are spreading rumours and creating panic. I urge the people of the country to stay alert and cautious against such misinformation.”

Criticising political opponents in the state, the Prime Minister said LDF and UDF represent two sides of the same system. He alleged that both groups have been associated with corruption, stalled development and divisive politics, which have hindered the progress of the state.

He continued, “When UDF was in power, the state witnessed the solar scam. Today, under LDF rule, the CMRL scam is dominating the headlines. Look at their partnership even in controversies around the Sabarimala temple. There are allegations of gold loot against leaders of one side and accusations of selling the looted gold against leaders of the other.”

Taking a swipe at the UDF and LDF, PM Modi asserted, "On one side is the UDF led by the Congress, which has now become MMC - Muslim League Maoist Congress. To win elections in Keralam, Congress depends on organisations like Jamaat and others whose radical agendas threaten the peace of the state. On the other side, the LDF has long-standing ties with extremist elements like the PDP, whose leaders are known for spreading extremism among the youth. Therefore, the people of Keralam must remain cautious of both UDF and LDF.”

Calling for a new mandate, the Prime Minister concluded by saying, “The goal of BJP is the development of the nation and the development of Keralam. With a BJP-NDA government here and a double-engine government, Keralam will move ahead with double the speed toward prosperity and growth.”