Finance Minister Nirmala Sitharaman today said that the Union Budget focuses on agriculture, rural prosperity, urban development, and continues to lay emphasis on reforms. Addressing the media in New Delhi this afternoon, the Finance Minister said that the Budget says several things about India’s path towards Viksit Bharat. She added that six specified reforms have been identified in which the government will continue its reform agenda. Ms Sitharaman said interests of health and education have been prioritised in the Budget.
The Finance Minister highlighted that responding to the voice of the people, the income tax simplification announced last July is already completed in its works. She said the new income tax bill in this regard will be introduced in Parliament next week. She also said that tariffs are being simplified and brought down. Ms Sitharaman said one crore more people will benefit due to the increased tax exemption limit from 7 lakh to 12 lakh rupees.
The Finance Minister also emphasised that there is no reduction in the public spending on capital expenditure. She said government continues to place emphasis on the multiplier effect that capital expenditure done by government has shown. She pointed out that fiscal prudence is being maintained.
