Bommai hails the budget that supports PM Modi’s vision of a developed Bharath
New Delhi:The Union Budget presented by Union Finance Minister Nirmala Sitaraman has given a surprise gift to the middle class, increasing their savings. It is a budget that maintains balance in both economic and social sectors, said former Chief Minister and MP Basavaraj Bommai.
Speaking to the media after the Union Budget presentation on Saturday, he said this is a development-oriented budget that will lead India towards the vision of a developed nation by 2047. It maintains economic and social balance and aligns with Modi’s dream of self-reliance.
“This budget boosts the expectations of the middle class and increases their savings. It is truly a surprise gift for them. Many expected a tax exemption limit of Rs 10 lakh, but Prime Minister Narendra Modi and Union Finance Minister Nirmala Sitharaman have given a surprise gift by increasing the exemption limit to Rs 12 lakh,” Bommai said.
He said the budget maintains economic and social balance, giving priority to the poor, farmers, women, youth, and SC/ST communities. It provides vast opportunities for working individuals. Special emphasis has been given to research and indigenous technology, particularly in agriculture, making it self-reliant. Steps have been taken to ensure self-sufficiency in urea, fertilizers, and seed production. The budget promotes self-employment in rural areas and aims to reduce rural-to-urban migration. Substantial investments have been allocated for railway and road infrastructure. Health and education sectors have been prioritised, with a special focus on cancer prevention in healthcare.
The MP said the Union government has announced an interest-free loan of Rs 1.5 lakh crore for states for 50 years, from which Karnataka is likely to receive Rs 7,000 to Rs 8,000 crore. This is a development-oriented budget, and by 2025-26, GDP growth is expected to reach 7-8 per cent. Taxation has been significantly simplified, including customs reforms. Special emphasis has been given to cancer treatment, electronics, medical sciences, and emerging technologies, making this a highly progressive budget, he added.
