Union Budget reflects aspirations of people, says Rangasamy

The Union Budget presented by Finance Minister Nirmala Sitharaman “reflects the aspirations of people and further advances the development of the country,” Chief Minister N. Rangasamy said on Saturday.

In a message, the Chief Minister said the Budget has several features that would advance the progress of the nation. Complimenting Prime Minister Narendra Modi and Union Finance Minister Nirmala Sitharaman, Mr. Rangasamy said the Central government has shown its priority towards development of the farm sector by introducing Pradhan Mantri Dhan Dhanya Krishi Yojana aimed at improving agricultural conditions in 100 districts with low productivity, moderate crop intensity and below average access to credit. The scheme would help in improving post-harvest storage and providing irrigation facilities, he said.

While welcoming the Budget, the Chief Minister highlighted the direction given in the Budget to increase the loan limit under the Kisan Credit Card Scheme from ₹3 lakh to ₹5 lakh and to improve fertilizer production capacity in the country. 

The Chief Minister complimented the Central government for enhancing MSME credit guarantee to ₹10 crore, introducing a loan scheme for SC/ST women entrepreneurs, provision to provide broadband connectivity in government schools and primary health centres in rural areas. He also lauded the Union Budget for announcing a 50-year interest-free loan to States for infrastructure development works.

Hailing the Centre for providing income tax relief, the Chief Minister said the decision to introduce zero income tax for up to ₹12 lakh will be of great relief to the middle class segment of the population.