Path-breaking budget towards making India 5 trillion dollar economy: NITI Aayog VC

NITI Aayog Vice Chairman NITI Aayog Dr Rajiv Kumar has hailed Union Budget 2019-20 as a path-breaking budget which sets out a clear path for accelerating private investment driven economic growth for India to emerge as a five trillion dollar economy.

"At the same time, it has effectively addressed the major challenges facing the economy at present," said Kumar, congratulating Finance Minister Nirmala Sitharaman on her maiden budget and "looks forward very much to contributing to the country's march forward."

Earlier, Prime Minister Narendra Modi lauded the Union Budget 2019-2020, as the budget for building New India.

In a statement after the presentation of the annual Budget, the Prime Minister said the Budget will strengthen the poor and will create a better future for the youth of the country.

Highlighting the potential benefits of the Budget, Modi said that the Budget will accelerate the pace of development in the country and will greatly benefit the middle class.

"The budget will simplify the tax process and help in modernizing the infrastructure in the country," said Modi.

He said the Budget will strengthen the enterprises as well as the entrepreneurs. He said that the Budget will further increase the participation of women in the development of the country.

"The Budget has a roadmap to transform the agriculture sector of India," added Prime Minister Modi.