PM Modi terms budget pragmatic, says will reignite growth

Last Updated: Saturday, February 28, 2015, 14:33

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New Delhi: Prime Minister Narendra Modi on Saturday described the budget as "progressive" and "pragmatic" and said it will reignite growth while assuring foreign investors about stable, predictable and fair tax system.

"Union budget 2015 is a budget with a clear vision. It is a budget that is progressive, positive, practical, pragmatic & prudent," Modi tweeted.

The budget will "further reignite our growth engine, signalling the dawn of a prosperous future", he added.

He said Finance Minister Arun Jaitley must be congratulated for "this pro-poor, pro-growth, pro-middle class, pro-youth & paradigm shifting budget".

Modi said the budget has a distinct focus on farmers, youth, poor and neo-middle class and "delivers on growth, equity and job creation".

Contending that the budget is investment friendly, the Prime Minister said it "removes all doubts on tax issues" and "assures investors that we have a stable, predictable and fair tax system."

He said Jaitley had laid down goals to be achieved by 2022 which include housing for all, jobs, health, education and total electrification.

Referring to black money issue, he said the mention of a new law being introduced "demonstrates our firm commitment to bring back every Rupee of Black Money stashed abroad".

Modi also appreciated Jaitley for "doing an excellent job in respecting aspirations of the states and at the same time delivering on national priorities."

He said the budget also indicates the government's commitment to ensure that development of eastern and northeastern parts of India gets an impetus and drives future growth.

The Prime Minister said "success" of Jan Dhan Yojana is "gladdening" and "Building on that, key schemes are announced that will comprehensively transform lives of the poor."

In this context, he referred to new schemes like Suraksha Bima Yojana, Atal Pension Yojana, Jeevan Jyoti Bima Yojana, Vidya Lakshmi Karyakram, saying they mark "a shift from Jan Dhan to Jan Kalyan".

He said Atal Innovation Mission and SETU "underline our commitment to enable innovation, entrepreneurship and start-ups to grow & shine in India."