New Delhi, Jul 6: Describing Union Budget 2019-20 as a 'Gazette of New India', Union Minority Affairs Minister Mukhtar Abbas Naqvi on Saturday said it focuses on economic and social inclusion of last person of the society.
'Modi Government’s development-oriented Budget will give strength to the poor, it will greatly benefit the middle class and accelerate the pace of development in the country. It focuses on economic and social inclusion of last person of the society,' said Mr Naqvi in his blog.
He said the Budget is a 'Gazette of New India' with commitment to 'Inclusive Growth & Good Governance' and fulfills aspirations of youth, women, farmers, traders and all other sections of the society.
The budget give wings to economic reforms in the country and will further strengthen the foundation of Indian economy, the minister said, adding that this future-oriented Budget focuses on long-term goal of making India a 5 trillion US Dollar economy.
'It will boost investment in manufacturing and infrastructure development.
Simultaneously the Budget will bring reforms and strengthen financial markets to make funds available for ambitious programmes.
'About Rs 100 lakh crore will be invested in infrastructure sector over the next five years. Massive programme of railway station modernization will be launched this year,' he wrote.
Praising the budget, Mr Naqvi said it will strengthen enterprises as well as entrepreneurs, it focuses on financial reforms and will simplify the tax process.
The Budget has special focus on women empowerment, he said.
All small and medium level traders are also taken care of in the budget, Mr Naqvi said, adding that 'all companies having annual turnover of Rs 400 crores, will now be under the bracket of 25 per cent. This will cover 99.3 per cent of all the companies'.
Mr Naqvi said extra focus on e-assessment and faceless assessment regarding start-ups will reduce discretion and bias.
He lauded the pension benefit to around 3 crore retail traders and shopkeepers with an annual turnover less than Rs 1.5 crore.
'The Budget has also stressed on 'Zero Budget Farming', to go back to basics, which will help doubling farmers’ income,' he wrote. (UNI)