Budget guarantee of strengthening foundation of developed India: PM Modi

New Delhi: Prime Minister Narendra Modi asserted on Thursday that the Union Budget presented by Finance Minister Nirmala Sitharaman offers the "guarantee" of strengthening the foundation of a developed India.

Read the full budget speech here

In a televised address following the budget, he said it will empower the four pillars of developed India, namely the young, poor, women and farmers.

"This is a budget of creating India's future," he said, adding that it is a reflection of the young aspirations of a young India.

Citing the announcement of Rs 1 lakh crore fund for research and innovation, he noted that the "historic" budget has also offered rebates for start-ups. It has provisions for a huge capital expenditure of Rs 11.11 lakh crore while keeping the fiscal deficit under control, he said.

The budget empowers the poor and middle class and will create countless employment opportunities for the youth, he said.