Union finance minister Nirmala Sitharaman during Union Budget 2019-20 presentation on Friday. Image credit - Twitter @BjpBiplab

Tripura chief minister Biplab Kumar Deb has congratulated Prime Minister Narendra Modi and union finance minister Nirmala Sitharaman for presenting a ‘pro-people’ 2019-20 Union Budget.

Deb said that the Union Budget 2019-20 will boost rural economy and will be helpful for farmers to increase their income.

“Housing for all by 2022 and pure water supply to every household in India by 2024 shows government’s commitment for making a New India. This budget shows New India’s progressive thinking, which will not only bring relief to the poor but also accelerate the development of the country,” Deb said.

“Under Narendra Modi’s guidance finance minister Nirmala Sitharaman today presented the first Budget of the NDA second term, which will boost India’s economy tremendously. People from all walks of life will be benefited including farmers, youth, workers, students, women and senior citizens,” Deb said on Friday.

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He added that the micro economic scenario is more inclusive with emphasis on infrastructure creation with a whooping target of Rs. 100 lakh crore in 5 years.

Stress has been given on ‘Gao, Gareeb, Kisan’ & also on women that makes it more inclusive, he added.

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“The 2 crore houses, 1.25 lakh km rural road, Bharat Mala phase 2, PM Matsya Sampada Yojna, power & LPG for all, focus on water, labour laws to codes, rural incubators, national transport card, social security exchange are some Big Bang announcements taking country towards new  developed India,” he said.

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Deb added that leveraging the demographic dividend, higher and technical education has been given more emphasis because a 5 trillion dollar economy will create huge job opportunities, thereby allowing the trickle-down effect to reach till last man.

He also hailed the banking reforms in the budget and said that Rs. 4 lakh crore NPAs realised and with new provisions to help NBFCs, more liquidity will be available for businesses.

“The ambitious target of more than 1 lakh crore disinvestment is a welcome move and 25% disinvestment open for public is a great move to give people the ownership of public assets,” said the Tripura CM.

He said that the taxation part of budget has given emphasis on recognising the tax payers as valued citizens and for their ease of doing business.

“The reforms are aimed at reducing ‘inspector Raj’ in income tax department and making tax compliance more predictable. PAN and Aadhar interchangeability & 2% tax on cash withdrawals above ?1 crore annually is a great step towards less cash transaction,” he said.