In 7th Budget as Finance Minister Nirmala Sitharaman announced a series of boosters for various sectors. Presenting the Budget on July 23, she said India’s economic growth continues to be the shining exception and will remain so in the years ahead. However, she noted significant downside risks to growth and upside risks to inflation.
Prime Minister Narendra Modi hailed the Union Budget 2024-25 on Tuesday as ‘holistic and all-inclusive’ and asserted that it will empower every section of society while paving the way for ‘Viksit Bharat’.
“This budget will empower all sections of society. It will take farmers on a path to prosperity and unveil new opportunities for the youth. Emphasizing education and skills training will open these sectors for the next level of growth,” the Prime Minister remarked in his initial reaction to the Union Budget.
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“It will strengthen the middle class, empower backward classes, ensure greater economic participation of women, and provide robust support for small traders and MSMEs to accelerate their growth,” he added.
Finance Minister Nirmala Sitharaman presented the first Budget of Modi 3.0 on Tuesday, outlining nine key priorities of the government.
PM Modi further highlighted that the Budget will give an unprecedented push to job generation and self-employment across the country.
“Over the last 10 years, the NDA government ensured that lower and middle-income taxpayers receive relief. Adjustments in tax slabs and an increase in standard deduction reflect this commitment. Every taxpayer stands to benefit from these measures,” PM Modi stated.
He emphasized that the Budget will act as a catalyst in advancing India’s growth story and positioning India as the world’s third-largest economy in the coming years.
“It will establish a firm foundation for the emergence of Viksit Bharat,” PM Modi concluded.
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