Union Minister of Commerce and Industry Piyush Goyal (File photo)
Union Minister of Commerce and Industry Piyush Goyal (File photo)

Budget perfectly encapsulates PM Modi's vision of New India: Piyush Goyal

ANI | Updated: Jul 05, 2019 16:09 IST

New Delhi [India], July 5 (ANI): Union Railway Minister Piyush Goyal on Friday congratulated Finance Minister Nirmala Sitharaman for presenting the Union Budget 2019-20, which, he said, perfectly encapsulates Prime Minister Narendra Modi's vision of New India.
"Congratulations Finance Minister Nirmala Sitharaman for delivering a #BudgetForNewIndia. It perfectly encapsulates Prime Minister Narendra Modi's vision of New India and will lead to investment, growth and economic development leading to the welfare of farmers, poor and middle class of the country," Goyal tweeted.
Union Defence Minister Rajnath Singh also praised the Union Budget.
"The Union Budget for the financial year 2019-20, presented by the Finance Minister in Parliament today, envisaged a total outlay of Rs 27,86,349 crore. Out of this, Rs 3,18,931.22 crore has been earmarked for Defence (excluding Defence Pension)," read a post on the official Twitter handle of Office of the Raksha Mantri.
"For Defence Pension, an amount of Rs 1, 12,079.57 crore has been provided in BE 2019-20. Total Defence allocation (Rs 431,010.79 crore) including Defence pension, accounts for 15.47 per cent of the total Central Government expenditure for the year 2019-20. The allocation of Rs 3,18,931.22 crore represents a growth of 7.93 per cent over Budget estimates (Rs 2,95,511.41 crore) and 6.87 per cent over Revised Estimates (Rs 2,98,418.72 crore ), respectively for the financial year 2018-19," read another post.
Out of Rs 3,18,931.22 crore allocated for the financial year 2019-20, Rs 2,10,682.42 crore is for Revenue (Net) expenditure and Rs 1,08,248.80 crore for Capital expenditure for the Defence Services and the Organizations/Departments under Ministry of Defence, the Home Minister stated.
"The amount of Rs 1,08,248.80 crore allocated for Capital expenditure, includes modernization related expenditure. The Capital Allocation of Ministry of Defence under BE 2019-20 is 31.97 per cent of the total Central Government Capital Expenditure, which is Rs 3,38,569.00 crore," he shared.
Finance Minister Nirmala Sitharaman earlier today presented the first Budget of the second term of the Narendra Modi government. (ANI)

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