New Delhi, Feb 1: Stating that the Union Budget 2020 showed both vision and action, Prime Minister Narendra Modi on Saturday said it was a "sabka saath budget" and fulfilled the promise of 'minimum government, maximum governance' that would strengthen the common man.
The reforms announced in the Budget would accelerate the economy, financially empower the citizen and strengthen the foundations of the economy, he said.
In his post-Budget remarks, he said the Budget had emphasised the main areas of employment which were agriculture, infrastructure, textiles and technology. "In order to increase employment generation, these four have been given a lot of emphasis in this Budget," he said in his reaction broadcast on All India Radio and Doordarshan.
He termed the new tax reforms as "revolutionary". "Each and every sector of the economy has been covered in this Budget," he said, adding that it stressed on job creation and help the Government achieve its target of doubling farmers' income.
Among the highlights were the Tax-Payer Charter, which, he said "will clarify rights of tax payers".
"In the world, there are only a handful of countries that have a Tax-Payer Charter," he said and congratulated Finance Minister Nirmala Sitharaman and her team for the budgetary proposals.
He said several tax concessions had been given to attract foreign investment, including tax benefits provided for start-ups and real estate sector.
He welcomed these proposals saying "All these decisions will boost the economy faster and will provide new employment opportunities."
Special efforts had been made in the Budget to promote employment generation in the field of technology, Mr Modi said.
Many measures had been announced in Budget to push employment in the country and this would energise the youth, he felt.
The Budget was focused on the skill development of the youth, he said.
It focused on export and MSME sector, "which drives employment" and had several new announcements to increase exports.
Steps had also been taken to strengthen the bond market and finance for infrastructure. He felt the removal of DDT would hand companies Rs 25,000 crore that could be further invested by them.
Additionally, a new move has been made to make every district an export hub:
On the goal to develop 100 airports in the country, he said it "is very important for the tourism sector of the country. In tourism, there is more possibility of employment/income generation with lesser investment." (UNI)