Prime Minister Modi Praises Union Budget 2024-25 for Empowering All Sections of Society
New Delhi, India – Prime Minister Narendra Modi announced that the Union Budget 2024-25, presented on Tuesday, will boost economic development across the country. He emphasized that the budget aims to empower all sections of society, including villages, the poor, and farmers.
Empowering the Neo Middle Class
PM Modi highlighted that in the last 10 years, 25 crore people have risen out of poverty. He stated, “This budget is for the continuation of the empowerment of the newly emerged, Neo Middle Class.” The budget also includes strong plans to support the tribal society, Dalits, and backward classes.
Tax and TDS Rules Simplified
The Prime Minister mentioned that the budget simplifies tax and TDS rules and includes provisions to make the defense sector self-reliant. The tourism sector also receives significant focus in this budget.
Support for MSMEs and Small Traders
PM Modi announced new schemes to ease credit for small traders and MSMEs. The budget aims to expand the export and manufacturing ecosystem to every district, creating new opportunities for startups and the space economy.
Focus on Manufacturing and Infrastructure
According to PM Modi, the budget places a strong emphasis on manufacturing and infrastructure, aiming to make India a global manufacturing hub. The MSME sector, which provides maximum employment to the poor, is closely connected to the middle class.
Opportunities for Women and Youth
The budget also aims to facilitate the economic participation of women and provide countless new opportunities for the youth. PM Modi congratulated the people of the country on this “landmark” budget, which he believes will propel the nation to unprecedented heights of progress.
Employment Linked Incentive Scheme
The government has announced an ‘Employment Linked Incentive scheme’ to generate many employment opportunities. Under this scheme, the government will pay the first salary for those newly entering the workforce. Youth from villages will be able to work in the country’s top companies under an apprenticeship program.
Congratulations to the Finance Team
PM Modi also congratulated Union Finance Minister Nirmala Sitharaman and her team for their tireless efforts in preparing the budget. The Union Budget 2024-25, presented by Finance Minister Nirmala Sitharaman, identified nine priorities, including productivity and resilience in agriculture, employment and skilling, and manufacturing and services.
Doubts Revealed
Prime Minister Modi -: Prime Minister Modi is the leader of India. He helps make important decisions for the country.
Union Budget -: The Union Budget is a plan that shows how the government will spend its money for the year. It includes things like building roads, schools, and helping people.
Finance Minister Nirmala Sitharaman -: Nirmala Sitharaman is the person in charge of managing the money for the country. She decides how to collect and spend money.
Neo Middle Class -: The Neo Middle Class are people who have recently started earning enough money to live a comfortable life, but are not very rich.
TDS -: TDS stands for Tax Deducted at Source. It means that some money is taken from your income as tax before you even get it.
self-reliance in the defense sector -: Self-reliance in the defense sector means making our own weapons and equipment for the military, instead of buying them from other countries.
MSMEs -: MSMEs stands for Micro, Small, and Medium Enterprises. These are small businesses that are very important for the economy.
Employment Linked Incentive scheme -: The Employment Linked Incentive scheme is a plan to give rewards to companies that create new jobs for people.
