Budget 2022: People-friendly and progressive, says PM Modi

The Prime Minister said the common people's reactions had provided the ruling Bharatiya Janata Party a renewed resolve to serve them.

Team Newsable

New Delhi, First Published Feb 1, 2022, 5:41 PM IST | Last Updated Feb 1, 2022, 5:41 PM IST

Prime Minister Narendra Modi called the Union Budget 'people-friendly and progressive'. PM Modi also said that the financial document announced by the Union Finance Minister Nirmala Sitharaman is full of new possibilities of more infrastructure, more investment, more growth, and more jobs.

PM Modi said the announced budget had brought a new confidence in the development amid the 100 years of a terrible calamity (Covid-19). This budget, along with strengthening the economy, would create many new opportunities for the commoner.

PM Modi also said the important aspect of this announced Budget is the welfare of the poor. Every poor person should have a pucca (cement) house, tap water, toilet, gas facilities and all these have been given special attention. At the same time, modern internet connectivity was also emphasized.

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The Prime Minister said the common people's reactions had provided the ruling Bharatiya Janata Party a renewed resolve to serve them.

On the Parvatmala scheme, PM said, for the first time in the country, the Parvatmala scheme is being instigated for regions like Himachal, Uttarakhand, Jammu and Kashmir, North East. This scheme would build a modern system of transportation in the mountains.

PM Modi's statements on the Union Budget 2022 came hours after the Financial Minister Nirmala Sitharaman presented her fourth budget in the Lok Sabha. She began her speech by expressing sympathy for those affected by the Covid-19 pandemic and its economic effects. She stated that the Budget would lay the groundwork for the Indian economy's next 25 years.

Also Read: Budget 2022: BharatNet broadband to be ready by 2025

With the $529.7 billion budget, Sitharaman increased investment in highways and affordable housing to put the economy on a more solid footing as it recovers from the pandemic.

The government forecasts GDP growth of 8 per cent to 8.5 per cent for the current fiscal year, compared to an estimated 9.2 per cent for the previous fiscal year and a 6.6 per cent contraction the previous year.

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