FEB 1, 2023
first budget of Amritkaal will build a strong foundation to fulfil the grand vision of a developed India. This budget gives priority to the underprivileged. This budget will fulfill the dreams of today’s aspirational society – village, poor, farmer, middle class.
I congratulate Finance Minister Nirmala ji and her team for this historic budget.
Traditionally, crores of ‘Vishwakarmas’ who create something or the other by working hard with their hands, tools and equipment are the builders of this country. We have a huge list of countless people like the blacksmiths, goldsmiths, potters, carpenters, sculptors, artisans, masons etc. The country has brought various incentive schemes for the first time in this budget to support the hard work of all these Vishwakarmas. Provisions have been made for training, technology, credit and market support for such people. PM Vishwakarma Kaushal Samman i.e. PM Vikas will bring a sea change in the lives of crores of Vishwakarmas.
From urban women to women living in villages, women engaged in business, or women busy with household chores, the government has taken many steps over the years to make their lives easier. Be it Jal Jeevan Mission, Ujjwala Yojana, PM-Awas Yojana, many such initiatives will be taken forward with a lot of vigour. Besides, ‘women self-help group’ is a very powerful sector that has acquired a huge space in India today. If they get a slight push, they can do miracles. And therefore, a new initiative for the all-round development of the ‘women self-help groups’ will add a new dimension to this budget. A special savings scheme for women is also being launched. And after the Jan Dhan account, this special savings scheme is going to give a fresh boost to the home makers, mothers and sisters of the families.
This budget will make cooperatives the pivot of development of rural economy. The government has brought the world’s largest food storage scheme in the co-operative sector – Storage Capacity. An ambitious plan to form new primary co-operatives has also been announced in the budget. This will expand the area of milk and fish production along with farming. The farmers, cattle-rearers and fishermen will get better price for their produce.
Now we have to replicate the success of digital payments in the agriculture sector. Therefore, in this budget, we have come up with a major plan for digital agriculture infrastructure. The world is celebrating International Millet Year. There are various types of millets in India which have different names. Today, as millets are reaching every household and becoming popular all over the world, its maximum benefits should go to the small farmers of India. Therefore, it is necessary to take it forward in a new way. It needs a new identity, a special identity. That’s why now this super-food has been given a new identity of ‘Shri Anna’. Several schemes have been formulated for its promotion. With the priority given to ‘Shri Anna’, the small farmers of the country, our tribal brothers and sisters, who are engaged in farming, will receive financial support and at the same time the countrymen will get a healthy life.
This budget will give an unprecedented boost to Green Growth, Green Economy, Green Energy, Green Infrastructure, and Green Jobs for a sustainable future. In the budget, we have laid a lot of emphasis on technology and new economy. Aspirational India today wants modern and Next generation infrastructure in every field like road, rail, metro, port, waterways. Compared to 2014, investment in infrastructure has been increased by more than 400 percent. This time an unprecedented investment of Rs 10 lakh crores on infrastructure will give new energy and momentum to India’s development. This investment will create new employment opportunities for the youth, providing new income opportunities to a large population. In this budget, along with Ease of Doing Business, the campaign of credit support and reforms for our industries has been taken forward. An additional loan guarantee of Rs 2 lakh crore has been allocated for MSMEs. Now increasing the limit of presumptive tax will help MSMEs to grow. A new system has been developed for timely payments by big companies to MSMEs.
India’s middle class has become a major stream in every sphere of life, be it development or systems, courage or ability to take a resolution, in a rapidly changing India. The middle class is a huge force to fulfill the dreams of a prosperous and developed India. Just as the youth power of India is the special strength of India, similarly the growing middle class of India is also its great strength. In order to empower the middle class, our government has taken several decisions in the past years and has ensured Ease of Living. We have reduced the tax rate, as well as made the process simple, transparent and fast. Our government, which has always stood with the middle class, has given huge tax relief to the middle class. I once again congratulate Nirmala ji and her entire team for this budget that serves all and helps in building a dynamic and a developed India. Besides congratulating, I call upon my countrymen – Now the new budget is in front of you. Go ahead with new resolutions. By 2047, we will definitely build a prosperous India, a capable India, and a developed India in every way. Let us take this journey forward. Thanks a lot!
DISCLAIMER: This is the approximate translation of PM’s speech. Original speech was delivered in Hindi.