Union Budget will fulfil PM Modi's dream of 'resurgent India': Venkaiah Naidu

Union Urban Development Minister M. Venkaiah Naidu on Thursday appreciated the Union Budget, saying it will help in achieving Prime Minister Narendra Modi's dream of building a resurgent India.

"This budget has given a powerful message of the transformation which Modi ji wants - transformation to build a resurgent India. Arun Jaitley, giving a push to it, has allocated enough funds to sectors," Naidu told ANI.

Highlighting the key points of the budget, Naidu said certain sectors have been given special emphasis for their development, which will further give boost to the economy.

"With the vision of Modi ji, the Finance Minister has stressed on 10 sectors in the Union Budget for speeding up development, employment, gap reduction between rural and urban reduces, poverty elimination," he said.

"When production will increase, income will increase which can then be disbursed among people," he added.

Naidu also reiterated that Prime Minister Modi's dream of every citizen having one's own house by 2022 will also be achieved now.

"PM's dream of 'Sabka Makaan by 2022' will also be fulfilled," he said.

Finance Minister Arun Jaitley, who yesterday presented the Union budget, said India is a bright spot in the current economic landscape.

He said that affordable housing will now be given infrastructure status, which will enable these projects to avail the associated benefits.

The National Housing Bank (NHB) will refinance individual housing loans of about Rs. 20,000 crore in 2017-18. Thanks to the surplus liquidity created by demonetisation, the Banks have already started reducing their lending rates, including those for housing.

Jaitley in his budget speech said that in addition, interest subvention for housing loans has also been announced by the Prime Minister.