Prime Minister Narendra Modi participated in the BJP membership drive at his constituency in Varanasi, Uttar Pradesh on July 6. Addressing BJP cadres, the Prime Minister highlighted the significance and important takeaways mentioned in the Union Budget that was presented by Finance Minister Nirmala Sitharaman on 5 July.
Stressing on the importance given by the government towards developing infrastructure in the country, PM Modi said that Rs 100 lakh crores will be spent on developing the infrastructure in both urban and rural areas of the country.
"Infrastructure will be given the utmost importance as more than Rs 100 lakh crores will be spent on developing highways, roadways, waterways, digitization, and development of urban and rural areas. The demands of the 21st-century society have been addressed by the budget and the government understands the need for an increase in the infrastructure and hence will thrive to provide the same", he said.
PM Modi spoke about the significance of Make in India when it came to the manufacturing of defense-related equipment, electronics, and electric vehicles and said that with India being self-equipped by manufacturing the items on their own, the cost of the products will be lesser and the citizens will not be burdened by the additional cost.
He emphasized on the importance given to the startup ecosystem in the country and said that the budget has elaborately dealt with startups, providing them with benefits such as tax exemption.
"The youth of the nation is highly dependent on startups and they want to progress at a very fast rate. Keeping that in mind, the budget has set aside adequate funds to encourage and promote startups in the country", he said.
The goal of $5 trillion dollar economy was once again reiterated by PM Modi, as he highlighted the importance of the Swachh Bharat scheme and keeping the country clean in order to boost tourism in the country. PM Modi gave a summarized version of how the Rs 100 lakh crores were going to be spent on the betterment of the country.
"The money allocated for developing infrastructure in the country will be spent on building nearly 1.5 km of roads in the rural and urban areas, providing affordable housing to the rural areas, building more than two crore houses in the villages for the poor, providing the middle-class with housing and benefits via income tax relief of up to Rs 3.50 lakhs for those who take housing loans", he said.
He said that with the development of infrastructure, employment will be generated and the middle-class will be the most benefited from it. With an increase in infrastructure, the requirement of steel and cement also increases along with the transport needs. Once again, the Make in India scheme will help the country save the cost as it would increase self-dependency and hence it finds a great deal of significance in the budget.
PM Modi said that the agricultural sector and the industrial sector will get a boost as per the provisions mentioned in the budget and the use of renewable sources of energy such as solar energy, wind energy, and biofuel will be encouraged. In addition to this, PM Modi said that the electrification of vehicles was also encouraged and the Make in India scheme was also extended to manufacturing Electric vehicles in India itself, with the tax on such manufacturing being waived off.
He said that by doing so, the spending on the conventional sources of fuel such as petrol and diesel will come down. "Every year five to six lakh crore rupees is spent on diesel and petrol. With the use of electric vehicles, this cost is reduced", he said.