Budget 2020-21 Will Fulfil Current Needs, Future Expectations Of Country: PM Modi
Mumbai: Prime Minister Narendra Modi said on Saturday that the Union Budget 2020-21 presented by his government is designed to boost income and investment on the one hand and increase demand and consumption on the other.
In a TV statement, after Finance Minister Nirmala Sitharaman presented the Union Budget in the Lok Sabha, Modi said: “I am sure that this budget will boost income and investment as well as demand and consumption. It will infuse new life into the financial system and enhance the credit flow.”
https://twitter.com/ANI/status/1223576803517718531
Regarding the various reforms and initiatives announced in the budget, Modi said that the measures would “speed up the economy, make every citizen financially stronger and the foundation of the country’s economy”.
Also Read: Govt Debt Down To 48.9 pc From 52.2 pc
The Prime Minister specifically mentioned the proposed online general examination to be conducted by the National Recruitment Agency for recruitment in various government jobs including banks and railways. The exams will save the efforts and resources put in by the job seekers, who had to appear in separate exams for different jobs, Modi said.
Mentioning the steps to ease government and maximize governance, the Prime Minister has made clear appeals in tax-related matters, new simplified structure for direct tax, focus on disinvestment, increased integrated procurement and universal pension. Auto-enrollment noted.
Also Read: Budget 2020 Provides Additional Rs 69,000 Cr For Health Sector: FM Nirmala Sitharaman
He said that company law would reduce many offences of a civil nature, and that taxpayer rights would be defined through a taxpayers charter.
Modi said, “This budget has strengthened my government’s commitment to ‘Minimum Government, Maximum Government’.”
The Prime Minister said that the tax benefits given to startups and real estate will accelerate economic growth.
In addition, the concessions given to foreign investors will attract them to India.
The Prime Minister said that the removal of dividend distribution tax would give an additional Rs 25,000 crore to the corporate houses, which the companies could invest further.
Follow us on Twitter, Instagram and like us on Facebook for the latest updates and interesting stories.
