Itanagar: Arunachal Pradesh Chief Minister Pema Khandu on Thursday hailed the Union Budget and said that the Budget reiterated the collective resolve to maintain the pace of all-round inclusive growth in a seamless manner. Finance Minister Nirmala Sitharaman on Thursday presented a vote on account or an interim Budget for the year 2024-25.
“Encapsulating the vision of Hon’ble PM Shri @narendramodi ji to achieve the goal of #ViksitBharat, the interim #UnionBudget2024 presented by Hon’ble FM Smt @nsitharaman ji reiterates our collective resolve to maintain the pace of all-round inclusive growth in a seamless manner,” Khandu posted in X, formerly Twitter.
Khandu said that with a significant increase in the capital expenditure outlay to 11.1 per cent (Rs11.11 lakh crore for FY 25), the budget propels India towards the ambitious target of a five trillion-dollar economy by 2027.
The extraordinary focus on R&D spend is also a decisive step forward, the Chief Minister said in another social media post.
The Finance Minister announced a Rs 11.11 lakh crore spending on infrastructure and vowed to continue reforms as she resisted resorting to populist measures in Modi government’s last Budget before general elections, instead choosing to stay on the path of cutting deficit while bolstering measures for focus groups.
Sitharaman also proposed no changes in income tax rates for individuals and corporates, as well as import duty but offered amnesty for disputed income tax demands of the period prior to 2014-15 as a relief to small taxpayers.