New Delhi

Union Home Minister Amit Shah praised the first Budget of the Modi 3.0 government that was presented by Finance Minister Nirmala Sitharaman on Tuesday, saying that the pro-people and pro-development visionary Budget 2024-25 fuels the nation's pace in emerging as a developed nation.

Taking to his social media handle on microblogging site X, Amit Shah posted, "The Budget 2024-25 not only exemplifies Bharat's newfound sense of purpose, hope and optimism under the PM Modi Ji-led NDA government but also fortifies them."

The Budget 2024–25 not only exemplifies Bharat's newfound sense of purpose, hope and optimism under the PM Modi Ji -led NDA government but also fortifies them.

Harnessing the power of Bharat's youth, Nari Shakti and farmers, the budget fuels the nation's pace on the path of…

— Amit Shah (@AmitShah) July 23, 2024

"Harnessing the power of Bharat's youth, Nari Shakti and farmers, the budget fuels the nation's pace on the path of emerging as a developed nation by ushering in a new era of employment and opportunities," read the post.

Amit Shah also expressed his heartfelt gratitude to Prime Minister Narendra Modi Ji and Finance Minister Nirmala Sitharaman for the "pro-people and pro-development visionary budget."

Assam Chief Minister and BJP leader Himanta Biswa Sarma also hailed the Union Budget and said that the budget lays down a solid road map to maintain India's growth momentum and seeks to propel our economy.

"My compliments to Hon'ble Union Minister Nirmala Sitharaman Ji and her team for presenting a budget that lays down a solid road map to maintain India's growth momentum and seeks to propel our economy to the world's third largest, as envisioned by Hon'ble Prime Minister Narendra Modi Ji," read the post.

Finance Minister Nirmala Sitharaman presented her record seventh consecutive Union Budget 2024-25 today (on July 23) during the Budget Session of Parliament. She makes history as the first finance minister to present seven consecutive budget speeches, surpassing former Prime Minister Morarji Desai's record of six consecutive budgets as finance minister between 1959 and 1964.

FM Sitharaman, in her seventh consecutive Union Budget for 2024-25, outlined key priorities aimed at fostering economic growth and creating ample opportunities. The priorities include Productivity and Resilience in Agriculture, Employment and Skilling and services.

She listed productivity and resilience in agriculture, employment and skilling, inclusive human resource development and social justice, manufacturing and services, urban development, energy security, infrastructure, innovation, research and development, and next-generation reforms as nine priority areas for the government.

In her budget speech, Sitharaman introduced an increased standard deduction and revised tax rates for salaried individuals under the new tax regime. Sitharaman announced a significant set of income-tax reforms for the fiscal year 2024-25, aimed at simplifying tax laws, promoting compliance, and fostering economic growth.

The finance minister highlighted the strong adoption of the simplified corporate tax regime, which now accounts for 58 per cent of corporate tax revenue in 2022-23.

Sitharaman on Tuesday also announced financial assistance to states including Bihar, Himachal Pradesh, Assam, Uttarakhand and Sikkim that have suffered losses due to floods and other natural calamities.

The Finance Minister announced an investment of Rs 10 lakh crore under the PM Awas Yojana Urban 2.0.

Sitharaman, in her budget speech, proposed the creation of employment for about 4.1 crore youth over the next five years. Towards this, the finance minister has made an allocation of Rs 2 lakh crore.

READ MORE: Union Budget 2024-25: Employment, skilling, women's jobs top focus

Similarly, for skilling the citizens so as to generate job opportunities, she proposed Rs 1.48 crore. 20 lakh youth will be skilled over a five-year period. A total of 1,000 industrial training institutes will be upgraded.