Bengaluru: Former Chief Minister and Member of Parliament Basavaraj Bommai said that the Union Finance Minister Nirmala Sitharaman has presented a progressive, model budget aimed at building a Developed India and taking the country towards becoming the world’s third-largest economic power.
Reacting to the Union Budget, he said that at a time when countries across the world are facing a global economic slowdown, India has continued its growth momentum, and the Finance Minister has presented a development-oriented budget that sustains this progress. The budget announces several policies and schemes to integrate citizens’ capabilities into the country’s economic activity, he said.
He noted that a scheme has been introduced to provide financial assistance of around ₹10,000 crore for future champions. Along with ensuring economic stability and inflation control, the budget addresses the aspirations of the people, sustains 7.4% economic growth, and promotes inclusive economic development that reaches all sections of society, he stated.
Special emphasis has been given to small industries, with strong support for the textile sector, leather products, IT-BT, and data centres. He said urban infrastructure has been accorded high priority, with significant focus on second- and third-tier cities.
The Central Government is investing around ₹12.5 lakh crore across various schemes, he added.
Controlling the fiscal deficit at 4.3% is a major achievement, he said. In the infrastructure sector, emphasis on roads, high-speed rail, and 20 inland water transport projects has opened new dimensions in transportation.
Overall, the Finance Minister has presented a progressive, model budget that will take India on the path of development and elevate it to the third position in the global economy, he said.
He further stated that imports from foreign countries have been made fully duty-free. Referring to the four pillars of the budget, he said the first is economic growth, and the second is the principle of “Sabka Saath, Sabka Vikas”, under which women, youth, farmers, and all sections of society are included, making this a truly inclusive budget.
