Union Minister Prakash Javadekar hails 'progressive' union budget

New Delhi, July 5: Information and Broadcasting Minister Prakash Javadekar on Friday hailed the Union Budget presented by the Narendra Modi government as "progressive" and asserted that it will ensure fast-paced development of the country.

In this year's Budget, Finance Minister Nirmala Sitharaman hiked tax on petrol and diesel, raised import duty on gold, levied additional surcharge on the super rich and brought a tax on high value cash withdrawals, as she sought to spur growth with reduction in corporate tax and sops to housing sector, startups and electric vehicles.

"This is a Budget that will ensure fast-paced development of the country. If we are the sixth largest economy in the world, then this Budget gives us the vision to become the fourth or the third largest economy," Javadekar told reporters outside Parliament. He said the Budget has been prepared keeping in mind Prime Minister Narendra Modi's vision of a prosperous and a strong India.

A clear vision of strengthening the infrastructure sector in the Budget and spending over Rs 100 lakh crore on it over the next 10 years is seen, he said. Measures to increase the FDI have also been outlined in the Budget and they will give strength to the government's 'Make in India' campaign as well as make life easy for the common man, Javadekar said.

The minister also hailed the women-friendly provisions in the Budget. Javadekar asserted that the government had adhered to fiscal discipline in the Budget which he said can be termed progressive.