Hyderabad: SJM welcomes Union Budget 2023-24

Hyderabad: The Swadeshi Jagaran Manch (SJM) has welcomed the Union Budget 2023-24 presented by Nirmala Sitaraman, Finance Minister, in Parliament on February 1, with more than Rs. 45 lakh crore, as 'prosperous and sustainable'.

The SJM leaders Srinath, Telangana and Andhra Pradesh Sampark Pramukh, Ashok -Telangana co-convener, C A Hanmandloo, State treasurer, CA Mukesh, Secundrabad Vibhag convener and Keshav Soni, Telangana Prachar Pramukh, addressed a joint media conference here on Thursday. They welcomed the rising of personal IT exemption from Rs. 5 lakh to Rs. 7 lakh per annum. This will improve quality of life and living styles.

They stated that India's economic growth is estimated to be 6.8 per cent in 2023-24 financial year, the highest among all major economies, irrespective of the global slowdown due to Covid pandemic and the Russia-Ukraine war.

The Budget is built on the outline drawn for India@100. As "Amrit kaal's" goal was to improve the quality of life of Indians with inclusive growth and development, in which the prosperous outcome of development reach all, with special focus on youth and ignored sections of society.

"The SJM accepts this Budget as balanced, constructive, inclusive and futuristic.

The proposed Budget aims at creation of jobs and economic growth by keeping strong and stable macro-economic fundamentals, tapping youth potentiality in the Amrit Kaal period".

"The Budget has rightly emphasised on seven priorities, described as 'Saptarishi', to reach the last person at the bottom line of economy (Reaching the last mile) as part of Anthyodaya to reach primitive vulnerable tribal groups (PMTG) in ST communities and also emphasised on PM Viswakarma, and targeting 'youth power' to create a knowledge society".

"The Budget has specifically focused on Green Growth to meet the net zero carbon emissions and promotes environment-friendly economic growth which is a part and parcel of Indian's day- to-day economic activity (live and let live)".

"The Budget has talked about 'Primitive Vulnerable Tribal Groups' for the first time to include the nomadic tribes spread across the country into the mainstream economic system by allocating Rs. 15,000 crore".

"The Budget has specifically mentioned millets promotion by referring to 'Shrianna'. With this, all farmers across the country, particularly who are producing millets, are going to be benefited. Also the food consumption pattern of people is going to change gradually by consuming millets which are highly nutritious.

"The Budget has emphasised on Green Growth to boost the national green hydrogen mission, energy transitions, PM PRANAMs to incentivise the State governments towards green growth and also to facilitate 1 crore farmers to adopt natural farming to mitigate pesticide-induced diseases and to improve land productivity".

"The Budget has targeted MSME growth by introducing Vivad se Vishwas-I which will bring relief for MSMEs and Vivad se Vishwas-II to settling contractual disputes across the country. It is focused on start-ups and claimed India as third largest eco-system for start-ups across the globe. The outlay for MSME has been improved and MSME performance is optimistic due to production-linked incentive scheme. The PLI budget outlay has also been increased predominantly".

They stated that the SJM highly appreciates the CAPEX (capital expenditure) increment to 13.7 lakh crore, which comprises 4.5 percent of GDP. "This will result in multiplier effect in near future for the younger generation through creation of infrastructure, ports, airports, roads.