Budget 2022 Reactions: 'Aatmanirbhar Arthvyavastha' - Key takeaways from PM Modi's address on self-reliant economy

By building houses for poor, made them lakhpatis, women 'malkins': PM Narendra Modi at 'Atmanirbhar Arthavyavastha' (self-reliant economy) symposium organised by BJP.

Budget proposes to make four-fold increase in public investments from UPA years; will open up immense opportunities: PM

Government has scrapped 25,000 compliances & repealed 1,500 redundant laws, says PM Modi

Fundamentals of economy are strong, we are moving in right direction at faster pace, says PM Modi

-The focus of the Union Budget is on providing basic amenities to the poor, middle class and youth, Prime Minister Narendra Modi said on Wednesday, and asserted that it is imperative that India becomes self-reliant.

-In his address on 'Aatmanirbhar Arthvyavastha' at a BJP event, he said that post-Covid, the possibility of a new world order is emerging and the initial indicators of it are already visible.

-A big change is coming in the way the world is viewing India, he said.

-"People, globally, want to see an empowered and strong India. It is imperative for us that we take our country forward at a rapid pace and strengthen it across several sectors," Modi said.

-It is very important that India not only becomes self-reliant but also that a modern India is built on the foundation of 'Aatmanirbhar Bharat'.

-Leaving aside the political angle, the budget has been welcomed from all quarters, Modi said.

-This Budget focuses on providing basic amenities to the poor, middle class and youth, he said adding that his government is working on the saturation of basic facilities.

-Modi also said migration from border villages is not good for national security and the budget has provisions to develop 'vibrant villages' on the border.

-In the last seven years, the decisions taken are continuously enlarging the Indian economy, Modi said.

-He said 7-8 years ago, India's GDP was Rs 1.10 lakh crore. Today, our GDP is nearly Rs 2.3 lakh crore.

-In a televised statement on Tuesday, Prime Minister Modi had said the Union Budget presented by Finance Minister Nirmala Sitharaman was "people-friendly, progressive" and full of possibilities for infrastructure, investment, growth and jobs.

BUDGET 2022

-Finance Minister Sitharaman unveiled a Rs 39.45 lakh crore budget, with higher spending on highways to affordable housing to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. While she primed up spending on infrastructure to create jobs and boost economic activity, Sitharaman did not tinker with income tax slabs or tax rates.

PM Modi says, "I will be talking about today’s people friendly and progressive Budget at a programme tomorrow, 2nd February at 11 AM. Do join the programme..."

This year’s Budget caters to the development needs of people in remote areas, hill states and those states on the banks of the Ganga. This is in line with our focus on all-round and inclusive development.

— Narendra Modi (@narendramodi) February 1, 2022

People from all walks of life have welcomed the #AatmanirbharBharatKaBudget. The youth of India see this Budget as one that will give wings to their ambitions. The emphasis on futuristic technologies in all spheres is noteworthy and will benefit a cross section of our citizens.

— Narendra Modi (@narendramodi) February 1, 2022

Today’s #AatmanirbharBharatKaBudget brings with it new energy and strength to our development trajectory, especially at a time when we are courageously fighting a once-in-a-lifetime global pandemic. This Budget brings more infra, more investment, more growth and more jobs.

— Narendra Modi (@narendramodi) February 1, 2022

I will be talking about today’s people friendly and progressive Budget at a programme tomorrow, 2nd February at 11 AM. Do join the programme...

— Narendra Modi (@narendramodi) February 1, 2022

- After 2018, information is being shared on black money by foreign countries. On bases of this info, we're working account by account for black money to be brought. NPAs in banks are coming down, banks getting the money back of those who've fled country: FM N Sitharaman

-Pandemic snatched away so many jobs across the world. Our Atmanirbhar Bharat Package saved the jobs of a lot of people. We are trying to help those who lost their jobs, through various schemes. I am denying but it is not fair to say that we didn't do anything: Finance Minister

- If we continue to retain the path of 8% of real GDP growth, it will translate into even 8% dollar GDP growth. If we extrapolate it, we should be a USD 5 trillion economy in terms of nominal GDP in the FY2025-26 or FY2026-27: Chief Economic Advisor Dr V Anantha Nageswaran

- We're taking several steps to tackle these (unemployment & inflation) issues. Our govt didn't allow inflation to go double-digit. Yes, it breached the 6%  limit for a month but never crossed it. However, before 2014 it was always in the range of 10,11,12,13: FM N Sitharaman

- I have not tried to earn even a single paisa by increasing tax this year & even last year. PM had given clear instructions that people should not be burdened with taxes at the time of the pandemic, notwithstanding the deficit: FM Nirmala Sitharaman

- I have not tried to earn even a single paisa by increasing tax this year & even last year. PM had given clear instructions that people should not be burdened with taxes at the time of the pandemic, notwithstanding the deficit: FM Nirmala Sitharaman

- Union Budget is progressive, forward-looking: NITI Aayog CEO

PM Modi says Budget people friendly, creates new opportunities for jobs and growth

Prime Minister Narendra Modi on Tuesday said the Union Budget presented by Finance Minister Nirmala Sitharaman was people friendly, progressive and full of possibilities for infrastructure, investment, growth and jobs.

In a televised statement, Modi said an important aspect of the Union Budget was welfare of the poor. It seeks to solve contemporary problems and create new opportunities for the common people, he said.

The Budget aims to ensure pucca house, toilet, tap water and gas connection for every poor household. At the same time focus is on modern Internet connectivity also, the prime minister said.

The Budget this year has come with a new confidence of development amidst the once-in-a-century calamity, Modi said, adding that it will create new opportunities for common people along with providing strength to the economy.

The prime minister said the Budget is full of opportunities for more Infrastructure, more Investment, more growth, and more jobs

This will further open the green job sector. This Budget not only solves contemporary problems but also ensures bright future for the youth.

Modi said the Parvatmala scheme will create a modern system of transportation in hilly areas such as Himachal Pradesh, Uttarakhand, Jammu and Kashmir and the Northeast.

The quest for modernity and technology in every sphere of life through steps such as drones for farmers, Vande Bharat trains, digital currency, 5 G services, national digital health ecosystem will hugely benefit our youth, middle class, poor, Dalit and backward classes.

Along with the cleaning of the Ganga, which is the centre of faith of millions of Indians, the government will encourage natural farming on the banks of the river in the five states of Uttarakhand, Uttar Pradesh, Bihar, Jharkhand and West Bengal, the prime minister said.

This is a significant step for the welfare of the farmers and this will also help in making Ganga chemical-free.

He said the provisions in the Union Budget also aim to make agriculture lucrative and full of new opportunities.

Measures such as special fund for encouraging new agriculture startups and package for food processing industry will help in increasing income of farmers. More than Rs 2.25 lakh crore are being transferred in the account of the farmers through MSP purchase, he said.

Modi said along with record increase in the credit guarantee, many schemes have been announced in the Budget.

India's MSME sector will be greatly benefitted by the reservation of 68 per cent of the Defence Capital Budget for the domestic industry. Rs 7.5 lakh crore worth of public investment will give new push to the economy and create new opportunities for small and other industries, he said. 

#Budget2022 पर ZEEL के MD पुनीत गोयनका की राय @punitgoenka | @AnilSinghvi_ | @ZEECorporate | @BrajeshKMZee | #BudgetOnZee | #GrowthBoosterZee pic.twitter.com/juDdl3MBZZ

— Zee Business (@ZeeBusiness) February 1, 2022

-I congratulate Finance Minister Nirmala Sitharaman for this 'People Friendly and Progressive budget'.

- I will speak in detail on the Budget at 11 am tomorrow: PM Modi.

- For the first time in the country, 'Parvat Mala' scheme is being kickstarted for regions like Himachal Pradesh, Uttarakhand, J&K, northeast. It'll facilitate modern system of transportation & connectivity in hills. This will provide strength to border villages: PM 

- Besides the cleaning of Maa Ganga, a major step has been taken for the welfare of farmers. Natural farming on the banks of river Ganga in Uttarakhand, Uttar Pradesh, Jharkhand, Bihar, West Bengal will be promoted. This will help make rive Ganga chemical-free: PM Modi

- An announcement of over Rs 2.25 lakh crores MSP will be directly transferred (to farmers); budget will double farmers' income. For MSMEs, credit guarantee and many new schemes have been announced: PM Modi

- This budget brings in new hopes and opportunities for the people. It strengthens the economy; it's full of 'more infrastructure, more investment, more growth and more jobs'. There is also a new provision of green jobs; budget ensures a bright future for youth: PM Modi

- BJP has invited me to speak on the subject of the Budget and Self-Reliant India at 11 am tomorrow. I will speak in detail on the Budget tomorrow: PM Narendra Modi

WATCH: PM Narendra Modi speaks on Budget 2022

Speaking on #AatmanirbharBharatKaBudget 2022. https://t.co/vqr6tNskoD

— Narendra Modi (@narendramodi) February 1, 2022

- Unblended fuel to attract additional excise duty of Rs 2/litre from Oct 1, to promote blending biofuels in petrol and diesel: FM

- Certain anti-dumping duty and CVD on certain steel products being revoked due to high price: FM

-FM proposes to reduce custom duties on certain chemicals, including methanol

- Customs duty on cut and polished diamond, gem stones reduced to 5%, says FM

-Concessional rate on capital goods and project imports to be phased out, says FM

- Concessional rate on capital goods and project imports to be phased out, says FM

- Govt will introduce IT-driven reforms for SEZs: FM

- Tax payers deserve applause for the highest-ever GST collection, says FM

-Gross GST collection in Jan at record Rs 1,40,986 cr; possible due to rapid eco recovery: FM

- GST revenues are buoyant despite the pandemic, says FM

- Any cess or surcharge on income not allowed as business expenditure: FM

-No set off of any loss will be allowed on undisclosed income detected during search and seizure operations, says FM

- Surcharge on long-term capital gains capped at 15 per cent: FM

- 1 per cent TDS on transfer of virtual assets above a threshold, gifts to be taxed: FM

- Concessional rate on capital goods and project imports to be phased out, says FM

- Govt will introduce IT-driven reforms for SEZs: FM

- Tax payers deserve applause for the highest-ever GST collection, says FM

-Gross GST collection in Jan at record Rs 1,40,986 cr; possible due to rapid eco recovery: FM

- GST revenues are buoyant despite the pandemic, says FM

- Any cess or surcharge on income not allowed as business expenditure: FM

-No set off of any loss will be allowed on undisclosed income detected during search and seizure operations, says FM

- Surcharge on long-term capital gains capped at 15 per cent: FM

- 1 per cent TDS on transfer of virtual assets above a threshold, gifts to be taxed: FM

- Union Finance Minister Nirmala Sitharaman introduces Finance Bill 2022.  #BudgetSession2022

- Customs duty on cut & polished diamonds, gems to be reduced to 5%:  Finance Minister Nirmala Sitharaman

-The gross GST collections for the month of January 2022 are Rs 1,40,986 crores which is the highest since the inception of GST: Finance Minister Nirmala Sitharaman

- To provide an opportunity to correct an error, taxpayers can now file an updated return within 2 years from the relevant assessment year: FM Nirmala Sitharaman

- Co-operative surcharge to be reduced from 12% to 7%: FM Nirmala Sitharaman