A Budget that Accelerates Development – Minister Sudhir Mungantiwar

Mumbai : The Union Budget presented by Finance Minister Nirmala Sitharaman is a comprehensive budget that brings relief to the common man, reduces the fiscal deficit, and accelerates the development of the country. Forest, Cultural Affairs, and Fisheries Minister Sudhir Mungantiwar commented that this budget is fair to all sections of society, promoting agriculture, employment generation, and public welfare.

Minister Mungantiwar said, “Under the leadership of Prime Minister Narendra Modi, I welcome this budget which takes a step forward toward realizing our collective dream of making the country a global leader.” The budget keeps the fiscal deficit at 4.9 percent of the gross national income, addressing the challenge of reducing the deficit while increasing spending on developmental works and welfare schemes. The restructuring of income tax is a relief to the common man. Exemptions given to various goods in GST, and exemptions from import and customs duties on essential medicines are satisfactory. Reduced taxes on mobile phones and their accessories will accelerate the digitization of the economy.

Farmers received significant relief in this budget, making fertilizers and seeds cheaper. This budget is a strong step toward increasing farmers’ income. Incentives and concessions for oilseed production are expected to make the country self-sufficient in edible oil. Schemes and concessions at the Gram Panchayat level to promote natural farming will reduce pollution of our land, water, and grain.

The budget’s schemes to promote air and water transport, as well as ship and aircraft repair and maintenance, aim to make the country self-sufficient in these sectors. The digitization of land records in rural and urban areas, along with new surveying and effective use of new technology, will enable more efficient land use and improve the work of development planning and control institutions. This budget addresses long-pending issues in the land record sector.

In addition to providing income tax concessions to the general public, the budget also offers concessions to the corporate sector. By linking these concessions to employment generation (Employment-Based Incentives), companies will now need to emphasize job creation along with technology and profit, which is a welcome move,” said Mungantiwar.