BENGALURU: Union Minister for Railways, Information and Broadcasting Ashwini Vaishnaw said here on Saturday that the Union budget has effectively dealt with the aspirations of lower strata and middle class of society by removing income tax for annual income of up to Rs 12 lakh.
He said NDA came to power at the Centre for the third consecutive term, a feat achieved after 50 years, because of the good work done by PM Narendra Modi. “People have seen changes in the north-south, east-west of the country because development work has been taken up in the last 10 years that has not been seen in 60-70 years,” he remarked.
He said the Metro, new airports, 390 new universities, new IITs and IIMs have made a significant change. “Despite having talent, technology, and entrepreneurship, in 2014 our country was considered one of the five weakest economies. Now, among all the big countries, ours is considered healthy in economy and other sectors,” he claimed.
“We have Rs 50 lakh crore, and the fiscal deficit is 4.8%, which is going to decline to 4%. I recently visited Davos. The IMF chief expressed surprise after hearing our PM’s thoughts on the economic sector. Ten years ago, farmer suicides were rampant. Now, the best MSP (minimum support price) is available, which is three times higher than it was 10 years ago,” he elaborated.
The condition of MSMEs has also improved despite Covid and it will thrive due to good credit systems and support from big industries, he said. “We can confidently say we are in a position to keep inflation under control and maintain a growth rate of 6-8%,” he remarked.
“A mobile manufacturing unit that will provide employment to 40,000-50,000 people will be started in Bengaluru,” he said. The union budget with maximum focus on technology benefits Bengaluru as funding has been announced for deep tech startups, he added.
Warns Congress govt
Ashwini Vaishnaw warned the Karnataka government against setting a negative narrative on the Centre. If it continues, Congress will face the same fate as AAP in Delhi, he added.
“The people of Delhi punished AAP for the false narrative it set against the Centre. Come out of the blame game and support the Centre in Railway and highway projects,” he said. On allegations that the Centre meted out injustice to the state, he hit back, saying the Union budget allocated Rs 7,564 crore to railway projects in the state compared to Rs 835 crore during the UPA-II government (2009-14). He said the state can make use of the 50-year interest-free loans as the budget has increased the fund from Rs 1 lakh crore to Rs 1.5 lakh crore for states to utilise.