Hyderabad: Union budget boosts development, says Suresh Prabhu

Hyderabad: Former Union Minister Suresh Prabhu and Sujana Chowdary said that the union budget has laid the foundation to give a boost for the double-digit growth and welfare of all sections of people.

Addressing media here on Friday, Suresh Prabhu said that stagnation in the economy had been witnessed across the globe due to Covid-19 impact and the world economy was contracted. Even the largest economy like the US has faced the same issue and India is no exception. This had resulted in a negative growth rate last year. However, all the credit rating agencies, research institutions and investment bankers have concluded that the worst is over for India's economy. Further, the budget has the component which lays ground to trigger growth as well as taking care of all the welfare of all sections of people.

He said that the budget had a substantial increase in the allocation for education, to protect the life of the people, streamlining agriculture, women empowerment, welfare for the poor, creation of employment for the youth in the days to come.

As part of giving impetus to the agriculture, 1,000 agriculture mandis will be connected through the e-market. The sole objective of the Centre is to strengthen and make farmers self-sufficient. To this end, the one nation and one market will help opening up multiple channels to market their agriculture produce. A farmer from Telangana and Andhra Pradesh can sell his agriculture produce in the Northern parts of the country or even fare east, he added. Also, the government had made substantial allocation for the security of the country.