India / Experts thought we will increase tax burden on common man: PM on Budget

New Delhi: Prime Minister Narendra Modi on Monday hailed the Union Budget 2021-22 and said it will enhance India's self-confidence amid the coronavirus pandemic while asserting that the budget envisions self-reliance.

"The Union Budget 2021-22 has been presented amid unprecedented circumstances.... Amid the situation created by COVID-19. Today's budget will enhance India's self-confidence and will instill self-confidence in the world. The budget has the vision of self-reliance and takes along every section of the society," PM Modi said after the Union Budget was tabled in the Parliament.

"We have taken the approach of widening new opportunities for growth, new openings for our youth, a new high to human resources, developing new regions for infrastructure, walking towards technology and bring new reforms in this Budget," the PM said.

The Prime Minister lauded Finance Minister Nirmala Sitharaman and her team for the budget.

"This budget will bring several positive changes for individuals, investors, industry, and infrastructure sector. I congratulate FM Nirmala Sitharaman Ji and her team on this budget," he said.

Speaking further on the budget, he said: "The government, while keeping in sync with fiscal sustainability, stressed on increasing the budget size, and did not put pressure on the citizens. Our government has always tried to keep the budget transparent."

"Many thought we will put the tax burden on the common man. However, we focused on a transparent budget," he added.

PM Modi said that the budget focuses on increasing farmers' income, several measures have been taken in this direction.

"Farmers will be able to get loans easily. Provisions have been made to strengthen APMC markets with the help of Agriculture Infrastructure Fund," he said.

The Prime Minister said that the budget focuses on sectors that are related to both wealth and wellness.

"A special focus is also on infrastructure and MSME sectors. This budget has categorically made announcements to ease and make lives of women better. Several systematic changes have also been made, which is set to help growth and job creation in the country," he said.

Earlier in the day, Finance Minister Nirmala Sitharaman presented the first-ever digital Union budget. She announced higher capital expenditure for the FY 2021-22 and focused on providing a major boost to healthcare and infrastructure building.

In her Budget speech, Sitharaman mentioned that this year's budget focused on six pillars- Health and Wellbeing, Physical and Financial Capital, and Infrastructure, Inclusive Development for Aspirational India, Reinvigorating Human Capital, Innovation and R&D and minimum government and maximum governance.

The Minister stated that India's fight against COVID-19 continues into 2021 and that this moment in history, when the political, economic, and strategic relations in the post-COVID world are changing, is the dawn of a new era - one in which India is well-poised to truly be the land of promise and hope.