Modi hails budget as 'people-friendly and progressive'

Welfare of the poor is an important aspect of the Union Budget which is full of possibilities for more investments, infrastructure and jobs, Prime Minister Narendra Modi said on Tuesday.

Calling the budget "people-friendly and progressive", Modi said it has brought new confidence to usher development in the midst of one the most terrible calamities in 100 years, a reference to the COVID-19 pandemic.

In his televised remarks on the Union Budget 2022-23 presented by Finance Minister Nirmala Sitharaman in Parliament, Modi said this budget will create many new opportunities for the common people, besides strengthening the economy.

"This budget is full of new possibilities for more infrastructure, more investment, more growth, and more jobs," the prime minister said, adding that it will also open up the field of green jobs.

"An important aspect of this budget is the welfare of the poor," Modi said.

Finance Minister Nirmala Sitharaman on Tuesday unveiled a bigger Rs 39.45 lakh crore Union Budget, with higher spending in areas like highways and affordable housing with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic.

While she primed up spending on infrastructure to create jobs and boost economic activity, Sitharaman did not tinker with income tax slabs or tax rates.