Finance Minister Nirmala Sitharaman announced the Union budget 2019 on Friday which had a number of steps which will be taken to put India on its path of becoming a $5 trillion robust economy. Union Minister Nitin Gadkari praised Sitharaman for her maiden speech.
Reacting to the Finance Minister's Union Budget presentation, Union Minister for Road Transport and Highways Nitin Gadkari lauded Sitharaman. He took to Twitter and said that the 2019 budget was a milestone budget for New India.
Gadkari further asserted confidence in Sitharaman's statement that India will attain the status of a 3 Trillion Dollar economy. He also said that Ministry of Micro, Small and Medium Enterprises (MSME) will contribute to the same.
Concluding his statements Gadkari also tweeted that the whole idea of electric cars in order to curb pollution was a brilliant initiative. Here's his tweet:
A series of initiatives and measures to kick-start growth in the economy, including the intention to invest Rs 100 lakh crore towards infrastructure in the next 5 years, to buttress the transformation of India were discussed.
A ten-point vision plan was voiced to allow for this, including:
There was significant impetus for both startups, sunrise sectors as well as MSMEs, including the doing away of angel tax, an extention of the 25% tax rate slab for companies with up to Rs 400 crore turnover from the existing Rs 250 crore. An announcement towards further opening up FDI norms in various industries, as well as in streamlining of labour laws was also made.
There was plenty in there for individuals as well, particularly the assurance of housing, road connectivity, electricity and gas by 2022 as well as the empowering of the new Jal Shakti Ministry to accomplish the newly stated 'Har Ghar Jal' mission by 2024. Additionally, retailers and shop-owners will also be brought under the NPS pension scheme, while in a massive focus on education and research, 'Study in India' and 'National Research Foundation' were also announced.