- Tuesday, April 30, 2024
By: Shubham Ghosh
Indian prime minister Narendra Modi on Wednesday (1) praised his government’s budget presented by finance minister Nirmala Sitharaman saying it would lay foundation of a strong economy.
In a national address after the budget for the 2023-24, the last full-fledged one before the next general elections next year, was presented, Modi said, “This budget will fulfil the dreams of the poor, villagers, farmers and middle class.”
In her fifth budget presented since 2019, Sitharaman besides raising the rebate for individual tax-payers from up to Rs 5 lakh (£4,961) to Rs 7 lakh (£6,945) annually, said the government will spend a whopping Rs 15,000 crore (£1.4 billion) on a mission for safe housing, sanitation, potable water, and electricity for tribals.
Other social welfare measures announced in the budget include assistance to one crore farmers to convert to natural farming, and raising the Pradhan Mantri Awas Yojana’s share by 66 per cent to Rs 79,000 crore (£7.8 billion).
