PM Modi applauds interim budget as 'Inclusive and Innovative'

• Allocation of ₹1 Lakh Crore fund for research and innovation
• Income tax remission scheme to provide relief to over 1 crore middle-class individuals
• Emphasis on empowerment and opportunities for the poor and middle-class, including the construction of 2 crore houses

In a statement on Thursday, Prime Minister Narendra Modi praised the recently presented Interim Budget by Finance Minister Nirmala Sitharaman, hailing it as "inclusive and innovative." PM Modi emphasized the budget's alignment with the aspirations of a young India, highlighting two key decisions made within the budget. A significant announcement included the allocation of a ₹1 Lakh Crore fund for research and innovation.

Additionally, PM Modi expressed confidence in the budget's ability to empower all facets of Viksit Bharat - the pillars of youth, the economically disadvantaged, women, and farmers. Notably, the Prime Minister asserted that the budget provides a guarantee of transforming India into a developed nation by 2047. He underscored the relief the income tax remission scheme would offer to over 1 crore middle-class individuals and the budget's focus on enhancing opportunities for the poor and middle-class, including the construction of 2 crore houses for the underprivileged.

PM Modi said capital expenditure outlay has been increased."In this budget, keeping fiscal deficit under control, capital expenditure has been given a historic high of ₹11,11,111 Crore. If we speak the languages of the economists, in a manner this is 'sweet spot'. With this, besides building India's modern infrastructure of the 21st century, innumerable new job opportunities for the youth will be prepared," he said.

The Opposition, however, claimed the budget lacked substance.

"It was one of the shortest speeches on record in the Budget. Not very much came out of it. As usual, a lot of rhetorical language, very little concrete on implementation. She talked about foreign investment without acknowledging that that investment has come down significantly," Congress MP Shashi Tharoor said.

Karnataka minister Priyank Kharge said Sitharaman only gave catchy slogans. "Nothing concrete has happened," he said.