Budget Reaction by Shri Narendra Modi, PM of India:
“I congratulate the Finance Minister Shri Arun Jaitley for this budget which strengthens the foundation of New India. The focus of the budget is on issues ranging from agriculture to Infrastructure. On the one hand, the budget covers aspects such as health plans to address the concerns of the poor and middle class, while on the other hand it has plans to increase the wealth of small entrepreneurs in the country. Other aspects range from food processing to fiber optics, from road to shipping, concerns of youth to those of senior citizens, rural India to Ayushman India and Digital India to Start up India.
The budget is expected to give a boost to the hopes and aspirations of 125 crore people of the country. It is expected to accelerate the development process of the country. It is farmer friendly, common man friendly, business environment friendly as well as development friendly. Ease of Doing Business as well as Ease of Living are in focus in this budget. More savings for the middle class, new generation infrastructure for 21st Century India and assurance of better health - all these are concrete steps towards Ease of Living.
Medical treatment and its cost has always been a cause of concern for the lower middle class and poor sections of the society. The new scheme 'Ayushman Bharat', presented in the budget, will address this serious concern. The scheme will be available to nearly 10 crore poor and lower middle class families of the country. It means it will provide coverage to 45-50 crore people. Under the scheme these families will get free treatment up to Rs. 5 lakhs per annum in the identified hospitals. This is by far, the world's largest health insurance plan for which government will bear the cost. The idea of setting up 1.5lakh Health Wellness Centers spread over all the major panchayats of the country is commendable. This will provide easy access to health care services to the people living in the villages. Establishment of 24 new medical colleges across the country will not only facilitate the treatment of the people but also help to impart medical education to the youngsters. It is our endeavor to have at least one medical college for covering three parliamentary constituencies across the country.
Several important decisions have been taken in this budget keeping in mind the concerns 0f Senior Citizens. Now Senior Citizens will be entitled to have a minimum interest of 8% on amount up to Rs 15 lakh under the Pradhan Mantri Vaya Vandan Yojana. No tax will be levied on interest up to Rs 50,000 on their Bank and Post Office deposits. Health insurance premium worth Rs 50,000 will be exempt from the Income tax. Besides, relief from Income Tax has been provided on expenditure up to Rs 1 lakh incurred on treatment of serious diseases.
In order to realize the dream of modern India, to enhance Ease of Living of the common man and to ensure stability in development, India requires Next Generation Infrastructure. Special emphasis has been given to development of infrastructure related to Digital India. Allocation of Rs. 6 lakh crores has been made which is Rs. 1 lakh crore more than the previous year. These schemes will enhance employment opportunities in our country manifold.
I congratulate the Finance Minister for tax concession to the salaried and middle class. This budget will live up to the expectation of every Indian Citizen. The budget has ensured the following – remunerative price of crop to the farmer, upliftment of the poor with welfare schemes, respecting honesty of tax paying citizen, support to the spirit of entrepreneurs with a right tax structure and hailing the contribution of senior citizens to the country. Once again my heartfelt congratulation to the Finance Minister and his team for presenting a budget which enhances ease of living and lay a strong foundation for the New India.”