NEW DELHI: The Union Budget will stimulate 'Make in India,' boost demand, and build capacities for a stronger, prosperous, and confident India, the Defence Minister Rajnath Singh said.
In a series of tweets, Singh congratulated Finance Minister Nirmla Sitharaman, saying, "Smt @nsitharaman, Minister of Finance, for presenting an excellent Union Budget for 2022-23. It is a Budget that will encourage 'Make in India,' increase demand, and build capacities for a stronger, more prosperous, and confident India." "The Budget reflects the government's emphasis on the Mahabharata and Prime Minister Narendra Modi's goal for growth and pro-people initiatives. It is a growth-oriented budget aimed at harnessing New India's energies "he stated
The monies granted for research and development in numerous industries, including defence, were also praised by the Defence Minister. "In various industries, including defence, significant funds have been set aside for research and development. The proposal to set aside 25% of the R&D budget for startups and private companies is a great idea "he stated
He stated that the majority of the funds will be used to improve the country's social and physical infrastructure. "The overall budget for effective capital spending in this year's Budget has climbed by a staggering 35.4 percent to more than Rs 10.6 lakh crore, with the vast majority of the money going into the building of social and physical infrastructure in the country," he said.