Budget proposals will help India in becoming $5 trillion economy: Rajnath

The Union Budget for 2023-24 is focused on growth and welfare with a priority to provide support to farmers, women, marginalised sections and the middle class, Defence Minister Rajnath Singh said on Wednesday.

Singh said the budget proposals will lead the country towards achieving its goal of becoming a USD 5 trillion economy and "top three" economies globally within a few years.

The defence minister said the Budget demonstrated the government's commitment towards supporting growth and welfare oriented policies that will benefit all sections of society including small businesses owners, farmers, and professionals alike.

"The Union Budget for 2023-24 presented by FM Smt. @nsitharaman under the guidance of PM Shri @narendramodi is focused on growth and welfare, with a priority to provide support to farmers, women, marginalised sections and the middle class," he tweeted.

"By creating jobs through investments in infrastructure projects paired with increased spending on agriculture, housing, healthcare and manufacturing sectors will help create more opportunities for everyone and help in driving economic growth further ahead!," he said.

Singh said the budget proposals will drive economic growth further.

"The increase in Income Tax exemption limit to Rs 7 lakhs and several other tax related reforms will provide a huge relief to middle class including salaried individuals and retired people. I congratulate the FM and thank Pradhanmantri ji for taking this people friendly decision.

"The Union Budget 2023-24 is expected to bring about positive changes in the country that will lead us towards achieving our goal of becoming a USD 5 trillion economy and 'Top Three' economies within few years," he said in another tweet.