Union Finance Minister Nirmala Sitharaman said on Wednesday that the Budget 2019 gives a "big picture" of the newly elected government which has received a strong mandate from the people of India.
Replying to a debate on the Union Budget 2019-20, the Finance Minister said it also spoke effectively on the question of job creation, the growth of investment and turning the country into a manufacturing hub.
"The Budget gives a big picture of the newly elected government which received a strong mandate from people of India. It tells the nation that a five trillion dollar economy target by the government has been set," she said.
Addressing the concerns raised during the Budget discussion, she said this was the second Budget after the implementation of the GST from July 1, 2017.
"This Budget 2019-20 reflects the government's commitment to substantially boost investment in agriculture, health, and education. There need not be any anxiety that sectors like education or health will suffer, as we have planned to achieve this through prudent rationalisation of the resources," she said.
She said the Budget also mentioned effectively on the question of job generation, the growth of investment and turning the country into a manufacturing hub, which will be assured through greater investment from the government.
Rejecting the opposition's charge of not properly addressing the farmer's concerns, the Finance Minister said it was completely false and stated that a comprehensive solution for the agriculture sector has been drawn out in the Budget.
"With regard to the MS Swaminathan recommendations on Minimum Support Prices, all commodities under the same has seen a big jump in MSP," she said while adding that the government has rolled out and implemented the PM-KISAN scheme with which Rs 6,000 is given to all farmers.
She said the government is also working on a pension scheme for farmers too.
The Minister said that the government was committed to the path of fiscal consolidation without compromising on requirements of public expenditure and there was an increase in tax receipts of the government.
She said the government was committed to national security as also to "sabka saath, sabka vikas".
She said that the amount of money spent on central government schemes was higher two years after the implementation of Goods and Services Tax.
She also said the government was committed to "substantially boost" investment in agriculture and social sector, particularly education and health.
She referred to the government setting fiscal deficit target of 3.3 per cent from an earlier 3.4 per cent and said there should be no anxiety.
"The government is committed to continuing the path of fiscal consolidation without compromising on requirements of public expenditure placed by various sectors," she said.
"Increased investment in the social sector will be ensured through prudent rationalization of expenditure and mobilisation of additional resources," she added.
"We will move GST Council to reduce the GST rate on e-vehicles from 12 per cent to 5 per cent," she said.
Several members took part in the debate which lasted over 15 hours.
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