Budget was guided by a long-term vision, not by elections: Union Minister Bhagwat Kishanrao Karad

Union Minister of State for Finance Bhagwat Kishanrao Karad said the Atmanirbhar Bharat scheme was a boon for businesses, especially the Micro, Small and Medium Enterprises (MSMEs), which bore the brunt of COVID-19

A sum of ₹2.28 lakh crore has been disbursed under the Central government’s flagship scheme aimed at extending the much-needed support to industries in the context of efforts being made by India to become self-reliant.

Mr. Karad said the Productivity Linked Incentives (PLI) scheme was another initiative that helped the industries in improving their efficiencies.

The Union Budget 2022-23 contained several measures that would give fillip not only to industries but also agriculture and various social sectors even as the country was battling the pandemic, he observed.

Addressing media persons here on Sunday, Mr. Karad said the Budget laid due emphasis on the welfare of women and youth, and the services sector which was the biggest employer.

The Prime Minister’s Gati Shakti infrastructure masterplan was poised to catapult the economy to a higher growth trajectory, he asserted.

The ‘Parvat Mala’ was a unique project under which ropeways were planned on a large-scale to link the hilly areas in States.

The Union Minister further said the budget was not formulated with an eye on the upcoming elections but with a vision to achieve all-round development by the year 2047, and appealed to the people to not fall into the trap of those who launched a malicious campaign against the Centre.

BJP State president Somu Veerraju said the budget did not offer major sops, instead it rightly took a pragmatic approach to tackling issues confronting the economy.