New Delhi: Finance Minister Arun Jaitely on Thursday presented the Narendra Modi government's last full budget Union Budget 2018-19 and expressed hope that the country is poised to become $5 trillion economy soon from $2.5 trillion now.
His Union Budget speech focused more on the education, healthcare and agriculture.
"We are now a $ 2.5 trillion economy, and we are firmly on the path to achieving 8 percent plus growth soon," FM Jaitley said while delivering his Union Budget 2018-19 speech in the Parliament.
"We hope to grow at 7.2 percent to 7.5 percent in the second half of 2017-18," he added.
"Rural infra, livelihood expenditure to be Rs 14.34 lakh cr in 2018-"9," he added.
"From the ease of doing business, our govt has moved to ease of living for the poor and middle class," he said.
Jaitley said the government will set up a Rs 2,000 crore Agri-Market Development Fund.
''Planning to boost micro, small and medium enterprises (MSME), the government plans to augment lending capacity under it to Rs 3 lakh crore in 2018-19,'' he said.
It has allocated Rs 1.38 lakh crore in FY19 for government health and education programmes, the FM said.
While the proposals made in the Union Budget 2018-19 evoked a positive response from the NDA allies, it was severely criticised by the leaders of the Opposition parties for having failed to meet the expectations of the common man.
Here are some of those reactions:-
Narendra Modi, PM of India
''The Union Budget 2018-19 focuses on ease of living and not just ease of business. The budget will strengthen the hopes of 1.2 billion Indians. The 2018-19 budget is farmer friendly, common man friendly, business friendly and development friendly.''
Rajnath Singh, Home Minister
''Its a grand budget, a lot of announcements for the poor, farmers and tribals. This budget will also cement India as a global economic power.''
Its a grand budget, lot of announcements for the poor, farmers and tribals. This budget will also cement India as a global economic power: HM Rajnath Singh #UnionBudget2018 pic.twitter.com/Wl7tlajbD0
— ANI (@ANI) February 1, 2018
Piyush Goyal, Railway Minister
''Its a balanced budget which is for every section of society, especially the focus on farmers and health services of the poor. Economy will also get a boost.I congratulate PM Modi and FM.''
Its a balanced budget which is for every section of society, especially the focus on farmers and health services of the poor. Economy will also get a boost.I congratulate PM Modi and FM Jaitley: Piyush Goyal,Railway Minister #UnionBudget2018 pic.twitter.com/XvmFBm2eOp
— ANI (@ANI) February 1, 2018
Smriti Irani, Union Minister
''I want congratulate Prime Minister Narendra Modi on announcing the world's biggest national health protection scheme. This budget is for the development of the poor, for farmers and increasing their income, senior citizens and women.''
I want congratulate Prime Minister Narendra Modi on announcing the world's biggest national health protection scheme. This budget is for the development of the poor, for farmers and increasing their income, senior citizens and women: Union Minister Smriti Irani pic.twitter.com/NseafQcGww
— ANI (@ANI) February 1, 2018
Yogi Adityanath, UP CM
''Desh ke ghareebon, gaon, kisaano, buzurgon ko dhyaan mein rakh kar behtareen yojnaayen hain, PM ka abhinandan aur FM ko badhai.''
Desh ke ghareebon, gaon, kisaano, buzurgon ko dhyaan mein rakh kar behtareen yojnaayen hain, PM ka abhinandan aur FM ko badhai: Yogi Adityanath,UP CM #UnionBudget2018 pic.twitter.com/oWgSgc8ox4
— ANI UP (@ANINewsUP) February 1, 2018
Nitin Gadkari, Union Minister
''Medical insurance of Rs 5 lakh for 10 crore families is a huge initiative. This is a historic budget.''
Medical insurance of Rs 5 lakh for 10 crore families is a huge initiative. This is a historic budget: Union minister Nitin Gadkari #UnionBudget2018 pic.twitter.com/ZTu50ZxzI1
— ANI (@ANI) February 1, 2018
HD Dewe Gowda, former PM
''FM has tried to make improvements for farmers but the problems of farmers and rural people are enormous. Measures may not be sufficient.''
Harsimrat Kaur Badal, Food Processing Minister
''Government's decision to double ministry's budget allocation will boost farmers income and generate millions of new jobs.''
MJ Akbar, Union Minister
''In the 1 hour 45-minute speech, 1 hour was for the poor, this is indeed historic. The Opposition has become too pessimistic.''
In the 1 hour 45 minute speech, 1 hour was for the poor, this is indeed historic. The opposition has become too pessimistic: MJ Akbar,Union Minister #UnionBudget2018 pic.twitter.com/Chq7eNCXQJ
— ANI (@ANI) February 1, 2018
P Chidambaram, Congress
''Finance Minister Arun Jaitley had failed the fiscal consolidation test that will have "serious consequences" on the economic growth rate. The fiscal deficit limit of 3.2 per cent in 2017-18 had been breached and was now estimated at 3.5 percent. This failure will have serious consequences."
Veerappa Moily, Congress
''This Budget is cosmetic, we are still waiting for 'achche din'.''
Manish Tewari, Congress
The government has attempted to pay lip service to farmers and other marginalised sections of society but it is a classic case of too less and completely at the inappropriate time.''
Sitaram Yechury, CPI-M
''Finance Minister Arun Jaitley's Union Budget 2018-19 was "unconnected to ground realities".
Nitish Kumar, Bihar CM
''Announcements regarding education, health and agriculture made in the Union Budget. A national health protection scheme to benefit 10 crore poor families announced, it is a huge initiative. I would like to congratulate the government.''
