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National News

Jul 05, 2019

Budget lays emphasis on overall development of the economy: FM

Finance Minister Nirmala Sitharaman has said, the Union budget 2019-20 has been presented in Parliament keeping in mind with a 10-year vision and five year target for every sector. Addressing the media in New Delhi after presenting the budget, Ms Sitharaman said, the budget lays emphasis on overall development of the economy. 

She said, the budget has focussed on rural initiatives and making urban living better. She said, the proposal of 70 thousand crore rupees capital investment in Public Sector banks will help them making lending easy. She said, Non Banking Financial Companies(NBFC) are a critical component of Indian banking system and the Government has adopted a comprehensive approach for NBFC financing. 

She said, start-ups have been given a whole set of tax benefits, which will enable them to do their business with much bigger ease. She said, women in every Self Help Group will get one lakh rupees under MUDRA Yojana for the business and overdraft facilities of five thousand rupees for women of such groups have also been made available. 

She said, the budget has taken care of the   needs of all segments without denying anybody. She said, outlay for welfare of SCs, STs and the poor and allocation for defence sector has been increased in the budget. 

On air pollution, Ms Sitharaman said that in line with commitment to reduce air pollution, the  government wanted to encourage electric vehicles in a significant way and this has been done also to create jobs and promote investment in sunrise industries.

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