India to become $10 trillion economy by 2030: Fadnavis

Source: The Hitavada      Date: 02 Feb 2019 10:30:00



Business Bureau,

CHIEF Minister of Maharashtra, Devendra Fadnavis congratulated Prime Minister, Narendra Modi and Interim Finance Minister, Piyush Goyal for presenting the first planned Budget which provides a road map for future development and growth of the economy till 2030.

“The Budget is a culmination of efforts from past four years with a vision to make India a $10 trillion economy by 2030,” Fadnavis said while speaking at the Budget analysis programme on the theme -- ‘India 2030’ -- organised by Money Bee Institute Private Limited at Scientific Society Lawns, Laxminagar on Friday.

Budget 2019 has introduced big schemes and sweeping changes to spur economic growth and benefit the common man. India is entering the fourth industrial revolution of digitisation and wants to emerge as a super power. There has to be balanced growth, agriculture and rural economy cannot be left behind. For this, Government is taking steps by connecting every village via Internet.

It has been proposed to give farmers income support of Rs 6,000 annually with an expenditure of Rs 75,000 crore. Government is purchasing agri produce in large quantities at MSP to shore up farmers’ income. “This exercise has been on an unprecedented scale never seen before,” he said. Budget proposes at creating a social security net for unorganised sector workers by providing Rs 3,000 per month pension which will benefit 12 crore people. For the middle-class, Income-Tax slab has been increased to Rs 5 lakh from Rs 3 lakh. One of the first things the Modi-led Government did when it came to power was to introduce big bang reforms like ‘Jan Dhan Yojana’. About 30 crore people did not have bank accounts and if they were to get direct benefit from the Government, bank accounts were necessary.

“The previous Government did not think about poor people but only rich industrialists,” he pointed out. Another step for the upliftment of the poor and growth of the rural economy was to build houses and toilets on a massive scale. The spending on these schemes provided employment, demand for construction materials which directly benefited the poor. Other major changes the Modi Government introduced were demonetisation and Goods and Services Tax (GST).

Demonetisation crippled the parallel economy preventing it from generating black money. GST, on the other hand, was another step towards making the country a tax-compliant society. Government is also promoting startup culture to create more business opportunities which will eventually create lakhs of jobs. Furthermore, the country needs a visionary leader like Narendra Modi who takes crucial decisions. He has introduced bold reforms to take the country to the next level of growth. All these revolutionary reforms will abolish unemployment and make the country a land of opportunities by 2030, he added.

Present were C Vasudevan, General Manager of BSE Investor Protection Fund, Dr Anushri Arora, Director of Central Institute of Business Management Research & Development (CIBMRD), Shivani Dani, Director of Money Bee Institute and Ashutosh Wakhare, Managing Director of Money Bee Institute.