Excelsior Correspondent
NEW DELHI, Feb 29: Describing the Union Budget as a reflection of Modi Government’s commitment to poor, Union Minister of State (Independent Charge) for Development of North Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh said that a number of provisions announced today are not only innovative and highly imaginative, but also address the hitherto unnoticed issues confronting the poor and weaker sections of the society. In this regard, he cited the example of provision for LPG connection to all BPL households which will not only empower the poor, but would also empower the women among the lower economic strata and at the same time, save them from the health hazard of over exposure to coal fuel and fumes.
Addressing the media after the budget presentation here today, Dr Jitendra Singh said, it is a tribute to Finance Minister Arun Jaitley’s brilliant pragmatism that a health protection scheme has been announced for the poor which incorporates Rs. 1 lakh cover per family with an additional Rs. 30,000/- for senior citizens. The question is, why such a thought never occurred to the earlier governments earlier finance ministers all these years, he asked.
With over 65% of India’s population below the age of 35 years, Dr Jitendra Singh said, it would have been unrealistic to frame a budget which was not youth-centric and therefore, this priority has been appropriately addressed. In this regard, he referred to the provision for 100% deduction of profits for 3 out of 5 years for Start ups and promoting entrepreneurship by increasing the turnover limit under presumptive taxation scheme to Rs. 2 cr. Affordable housing with 100% tax exemption for profits from small projects is also meant to encourage small first-time home buyers, who would mainly comprise young professionals, entrepreneurs and young start-ups who look forward to settle in a new town or city for the venture undertaken by them.
Refuting the opposition allegation that middle class had been ignored in the budget, Dr Jitendra Singh said, the Finance Minister’s innovative recommendation for amendment in the Motor Vehicle Act in order to allow private bus operators to enter into transport sector, whereas all along this was being earlier mostly managed by State Road Transport Corporations, is in itself a measure to facilitate the transport facility for the middle class and at the same time, also generate new job avenues. National Dialysis Services Programme, announced for the first time, is also meant to support the increasing number of middle class patients suffering from kidney disease, as a result of Diabetes and other causes, but finding themselves unable to undergo regular dialysis procedure which is essential for their survival, he added.
Fiscal Deficit Target of 3.5% is something which only the world’s fastest growing large economies can think of, but it is again the Finance Minister’s skilful management that India can proudly set this target before itself, he said.
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