Rajnath says 'historic' interim Budget will accelerate creation of 'New India'

Home Minister Rajnath Singh Friday termed the interim Budget "historic" and said it will accelerate the process of creating a 'New India' which is confident, self-reliant, developed and prosperous.

Congratulating Prime Minister Narendra Modi and Finance Minister Piyush Goyal, Singh said the tax exemption given to people with income up to Rs 5 lakh and another Rs 1.5 lakh in investments, totalling Rs 6.5 lakh, will have a major impact on the lives of middle class in general and salaried class in particular.

"I congratulate the Prime Minister and the Finance Minister for this historic interim Budget which is not only development-friendly, but also pays special attention to the middle class, farmers, workers in unorganised sector and the other vulnerable sections of our society," he said in a statement.

"It also highlights the vision and way forward for making India a 10 trillion dollar economy by 2030," he added.

The Union home minister said earlier, the governments used to give temporary relief to farmers but the PM Kisan Samman Scheme will ensure a permanent income for all small farmers.

Under the scheme, every farmer with land holdings up to 2 hectares will receive a sum of Rs 6,000 per year directly in the bank account.

The Budget has allocated Rs 20,000 in the current fiscal for the scheme, which reflects the government's intent and commitment to farmers' welfare, Singh said.

"On one hand, the Budget is focused on supporting the social infrastructure of our country and on the other hand it pays great attention to strengthening the economic infrastructure," he said.

"Sectors like defence, agriculture, infrastructure, industry, energy, education and health have been given a big boost in the Budget," Singh said.