Modi hails budget as progressive, positive

Terming the 2015-2016 union budget "progressive, positive, practical, pragmatic and prudent", Prime Minister Narendra Modi Saturday said it has a distinct focus on farmers, youth, poor, neo-middle class and 'aam nagrik' (common man).

The budget delivers on growth, equity and job creation, Modi said.

It was investment-friendly, removes all doubts on tax issues and also assures investors that "we have a stable, predictable and fair tax system", he said.

The details of the black money law being introduced demonstrates the NDA government's firm commitment to bring back every rupee stashed abroad, he said.

Congratulating Finance Minister Arun Jaitley for an "excellent job" in presenting it, Modi said the budget reflected the government's commitment to ensure development of the eastern and the northeastern parts of the country.

"The budget indicates our commitment to ensure that development of the eastern and northeastern parts of India gets an impetus and drives future growth," he said in a statement.

Talking about the government's flagship programmes, the prime minister said various schemes have been announced, keeping the same in mind, in the budget.

"Success of the Jan Dhan Yojana is gladdening. Building on that, key schemes are announced that will comprehensively transform lives of the poor," he said.

"The budget will further re-ignite our growth engine, signalling the dawn of a prosperous future," he said.