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National News

Jul 06, 2019

Budget aimed at ten-year vision, five-year target for every sector: FM Sitharaman

Finance Minister Nirmala Sitharaman has said budget 2019-20 is aimed at the ten-year vision and five-year target for every sector.

Talking to AIR after presenting her budget, Ms Sitharaman said, it lays emphasis on the overall development of the economy. She said the government is taking all policy reform measures in a dedicated way. The Minister said the budget clearly indicates that behavioural economics has actually worked in India.

Earlier, addressing newsmen in New Delhi, the Finance Minister said, the budget has focussed on rural initiatives and making urban living better. She said that Non-Banking Financial Companies (NBFC) are a critical component of the Indian banking system and the Government has adopted a comprehensive approach for NBFC financing.

Ms Sitharaman said that the proposal of 70 thousand crore rupees capital investment in Public Sector banks will help them making lending easy.

She said, start-ups have been given a whole set of tax benefits, which will enable them to do their business with much bigger ease. Ms Sitharaman said the budget has taken care of the needs of all segments without denying anybody.

Presenting the budget in the Lok Sabha Finance Minister said that it focuses on taking the country to newer heights. Ms Sitharaman said, aiming to double farmers' income by 2022, the government will invest in a big way in developing infrastructure in both agriculture and allied farm sector and encourage private entrepreneurs in food processing.

Ms Sitharaman said, to harness the potential in the fisheries sector, the government proposed a Pradhan Mantri Matsya Sampada Yojana to establish a robust fisheries management framework and check gaps in the value chain. She also proposed setting up of 10,000 new Farmer Producer Organisations to ensure economies of scale for farmers over the next five years.   

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