The Prime Minister highlighted five principles behind the budget – expansion of new opportunities for growth, opportunities for the youth, giving a new dimension to human resources, infrastructure development, and support fornew sectors grow. “The budget will enhance ease of living for the common man by simplifying procedures and rules. The budget will bring positive changes for individuals, investors, industry and the infrastructure sector,” he said. “There is special emphasis on health, hygiene, nutrition, pure water, and equality of opportunities. Along with an unprecedented increase in spending on infrastructure, there are many systemic reforms that will benefit growth and job creation,” he stressed.
The budget focuses on healthcare and all-round development, the Prime Minister pointed out. “In particular, I am happy that this budget has given special attention to development in our southern states, states in the northeast, and areas like Leh-Ladakh… This budget is a major step towards making India’s coastal states like Tamil Nadu, Kerala, and West Bengal business powerhouses. This budget will go a long way in tapping the unexplored potential of northeastern states like Assam,” he said. Modi’s mention of states is significant as West Bengal, Tamil Nadu, Kerala and Assam are due for elections soon. There is special emphasis on micro, small and medium enterprises and infrastructure to increase employment opportunities, he said, adding that the MSME sector’s budget had more than doubled from last year.
Amid protests against the new farm laws, the Prime Minister reiterated his commitment to the welfare of farmers. “Villages and our farmers are at the heart of this budget,” he said, highlighting the provisions made to strengthen the agricultural sector. “Farmers will be able to get loans more easily. To strengthen the mandis… a provision has been made from Agricultural Infrastructure Fund,” he said. Experts, worried about Covid-19’s impact, had assumed that the burden on the common man would increase, but keeping in mind its obligations towards fiscal sustainability, the government insisted on increasing the budget size, the PM said.