Ashish Ranjan
Prime Minister Narendra Modi praised the 2023 Union Budget on Wednesday, stating that it will fulfil the aspirations of the aspirational society, farmers, and middle class.
In a video address, Prime Minister Modi stated, “The first budget of Amrit Kaal will lay a solid foundation for developing India. This budget will fulfil the aspirations of a society that includes the poor, the middle class, and farmers.”
This year's Budget infuses new energy to India's development trajectory. #AmritKaalBudget https://t.co/lyV2SMgvvs
— Narendra Modi (@narendramodi) February 1, 2023
PM Modi stated that the middle class is a major force in realising the dreams of a prosperous and developed India, and that our government has taken numerous steps to empower it.
Modi stated, in discussing various aspects of the budget, that the success of digital payments must be replicated in the agriculture sector and that a scheme has been introduced for the establishment of digital infrastructure in this sector. It will make cooperatives the focal point of rural economic development, according to the PTI.
He stated, “An unprecedented investment of Rs 10 lakh crore in infrastructure will give development speed and new vitality.”
Sitharaman, while presenting the Union Budget 2023-24 to Parliament, announced a number of measures, including an income tax bonanza for the salaried class and a capital expenditure push by the government.
Also Read :- Budget 2023: Revised tax slab, Infrastructure and Job push | 10 points
Under the new tax system, the income tax rebate limit has been increased from Rs 5 lakh to Rs 7 lakh by the budget. Sitharaman added that the new tax system will now serve as the standard tax system. The capital investment expenditure has increased by 33% to Rs 10 lakh crore, which will account for 3.3% of GDP.
Sitharaman presents ‘first budget of Amrit Kaal’: What is Amrit Kaal and what does it signify?
Finance Minister of the Union Nirmala Sitharaman began her budget speech by referring to it as “the first budget of Amrit Kaal.” Throughout her speech, she repeatedly used the term “Amrit Kaal.”
During the 75th Independence Day celebrations in 2021, it was Prime Minister Narendra Modi who first used the term “Amrit Kaal.” It derives from Vedic astrology and signifies a golden age. In the run-up to the general elections of 2024, the BJP-led government has emphasised ‘Amrit Kaal’, claiming that the upcoming period in India will be its most prosperous, characterised by economic growth and social justice. “Amrit Kaal” also refers to the hope for a better future in which India is self-sufficient and fulfils all of its humanitarian obligations.
