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Vanathi Srinivasan MLA: Nirmala Sitharaman's Budget Favors Poor and Middle Class

SimpliCity News Team · 23 Jul 2024

Coimbatore: Coimbatore South MLA Vanathi Srinivasan has issued a statement on July 23, praising the Union Budget 2024-25 presented by Finance Minister Nirmala Sitharaman. The MLA emphasized that the budget focuses on uplifting the poor, middle class, youth, and women, while also aiming to strengthen India's economic position globally.

Vanathi Srinivasan noted that Nirmala Sitharaman has surpassed the record of Morarji Desai, who had presented six consecutive budgets as Prime Minister and Finance Minister. This marks Sitharaman's seventh consecutive budget presentation.

The MLA highlighted that under Prime Minister Narendra Modi's 10-year BJP rule, India has risen to become the world's fifth-largest economy. She mentioned Modi's vision to elevate India to the third-largest economy soon and to the top position by 2047, India's centenary year of independence.

Key points of the budget, as outlined by Vanathi Srinivasan, include:

1. Skill training for 4 crore youth

2. Rs. 1.50 lakh crore allocation for agriculture

3. Rs. 10 lakh education loan for higher studies in domestic institutions

4. One month's salary from the government for newly employed youth

5. Increase in Mudra loan limit to Rs. 20 lakh

6. Construction of 3 crore additional houses in urban and rural areas

7. Rs. 2.66 lakh crore allocation for rural development schemes

8. Public-private partnership for workers' accommodation

9. Internship program with Rs. 6,000 stipend for 1 crore youth in 500 leading companies

10. Rs. 1.48 lakh crore allocation for education, employment, and skill development

The MLA also mentioned several tax benefits, including customs duty exemption for three cancer drugs, reduction in import duty on gold and silver from 15% to 6%, and increased tax deductions for individuals and family pension schemes.

Vanathi Srinivasan concluded by expressing her gratitude and appreciation to Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman for the budget, which she believes will bring about a renaissance in employment opportunities.

budget economy youth employment tax benefits agriculture education

Vanathi Srinivasan MLA: Nirmala Sitharaman's Budget Favors Poor and Middle Class

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