New Delhi: A number of measures announced in the Budget for 2020-21 will help boost investment and the country's economic growth, Commerce and Industry Minister Piyush Goyal said on Saturday.
The budget is going to promote business and ensure that markets rebound, he said after the presentation of budget by Finance Minister Nirmala Sitharaman.
"A series of steps have been taken in the budget which encompasses almost every section of society and every aspect of the national economy. All of them put together collectively will be seen as a leg up to investment and growth," he said in a series of tweets.
He also said that the current budget has come up with Rs 40,000 crore rebate on personal income taxes for the middle class which will spur consumption and demand and encourage investment in the domestic industry.
"All the investments proposed in the budget, be it in roadways, railways, seaways and more are to give more income to the people. This is a budget which balances fiscal prudence with all the sections of the country for a better future of the country," he said.
The minister added that consumption and investment go hand in hand and the government has ensured that the world sees India as an honest economy.
Sitharaman on Saturday slashed income tax for individuals, abolished dividend tax for companies and announced record spending in agriculture and infrastructure sectors to pull out the economy from its worst slowdown in more than a decade.