Budget 2020-21: Prime Minister Narendra Modi has said that the Union Budget 2020 will lays strong foundation for a prosperous new decade and the new reforms announced in the Budget not only give a boost to the economy but also aim at the economic empowerment of every citizen in the country.
Focus on Employment Generation: Prime Minister said the Budget 2020 focuses on major employment generating sectors viz Agriculture, Infrastructure, Textiles and Technology. “The 16 Action Points will help in doubling the farmers income along with increasing the employment generation in the Rural Sector”, he said.
He said Budget also announced the reforms in the raw material duty structure so as to increase the production of man-made fibre in India. Prime Minister said, there was a demand for this reform for the last 3 decades.
Health Sector: Prime Minister said, “The Ayushman Bharat programme has expanded the health sector in the country. This has expanded the scope for more human resources, whether of doctors, nurses or attendants, along with the need for manufacturing of medical devices in the country. And the Government has taken several decisions in this direction”
Technology Sector: Prime Minister said that the Government has taken several special measures to improve the employment generation in the Technology sector. “We have taken several policy initiatives with regard to Smart Cities, Electronic Manufacturing, Data Centre Parks, Bio-Technology and Quantum Technology. With this India would become an integral part of the global value chain”
Infrastructure: A modern India needs modern infrastructure and the sector is a great employment generator, he said. “Over 100 Lakh Crore rupees is being invested in over 6500 projects and this would create a massive employment generation potential. The national logistics policy would also aid in trade, industry and employment”, he said.
Investment: Prime Minister said the budget has taken several historic steps to boost investment which is a major driver for employment.
“Several steps have been taken to strengthen the bond market and long term financing of Infrastructure projects. Similarly with the abolition of Dividend Distribution Tax, companies would be having over Rs 25000 Crores for further investment.”
Focus on Trust in Taxation: Prime Minister said that the Government is creating an atmosphere where there would be no disputes but trust in the Income Taxation.
Unified Exam for Government Jobs: “As of now the youth in the country have to take different exams for different government jobs. Bringing about a systemic change in this, the National Recruitment Agency will now hold one online common exam for recruitment to various jobs either for banks, railways or any other government job”, he said.
Minimum Government Maximum Governance: Prime Minister said the steps such as Faceless Appeal, Simplified Direct Tax, Efforts to step up disinvestment of PSUs, Unified Procurement System, Auto Enrolment are all aimed at Minimum Government & Maximum Governance.
Ease of Doing & Ease of Living: Further Prime Minister said the Budget announced the linking of Anganwadis, Schools, Wellness Centres and Police Stations in over One Lakh Gram Panchayats through Broadband Internet.
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