Budget has potential to boost India's economic growth: Advani

Bharatiya Janata Party (BJP) veteran Lal Krishna Advani on Monday dubbed the General Budget for 2016-17 presented by Union Finance Minister Arun Jaitley in Parliament as the best ever, saying it has the potential to boost India's economic growth with employment generation while reducing social imbalances.

"Have seen many budgets being presented in Parliament, the one presented by Finance Minister Jaitley today is certainly one of the best budget so far. Budget 2016 has potential to boost India's economic growth with employment generation, while reducing social imbalances. ," Advani said.

"Budget 2016 has made unprecedented provision for accelerating and modernising infrastructure in critical areas such as highways, railways. At a time when global economy remains weak, India's growth is laudable. It looks to become even brighter in the coming years," he added.

The BJP veteran further said the most heartening of the Budget is its strong emphasis on the neglected task of revitalisation of agriculture and rural development.

"Prime Minister and Finance Minister adopted approach that promises to make India stronger and more prosperous, while making 'Antyodaya' central theme of economic growth," he added.

Presenting the General Budget proposals for 2016-17 in Parliament today, Jaitley said that the government's agenda is to transform India, with incentives for agriculture and farmers' welfare, rural employment and development of infrastructure, covering all welfare and health services as well as making India as a knowledge based and productive society.

Jaitley said that government will reorient its intervention in the farm and non-farm sectors to shift focus beyond the country's food security to farmers' income security.

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He said that a total allocation of Rs.35, 984 crore is proposed for this purpose in order to double the income of farmers by 2022.

He said that a Unified Agricultural Marketing E-Platform will be dedicated to the nation on the birthday of Dr. Baba Saheb Ambedkar on April 14 this year to help the farmers in accessing markets, which is critical for enhancing their income.