Sitharaman hails her own budget

February 25, 2021 16:44

Union Finance Minister Nirmala Sitharaman on Thursday said this year's budget has negated the notion that welfare state is a socialist prerogative, and added that it has given a directional change to the Indian economy, wherein the government trusts wealth creators and citizens. She lauded the reform of faceless assessment for direct and indirect taxes, saying that tax terrorism will be a thing of the past, but also warned that "technology terrorism" will now gain ground.

"This is a budget for new decade. This budget clearly says- private sector we trust you and you are welcome to participate in the development of the country. It's a budget in which we are recognising what a government can do or how far it can do...So it's a budget that gives directional change to the Indian economy," Sitharaman said while addressing a meeting of intellectuals organised by the BJP.

"We inherited a system from the USSR, where glories of socialism were spoken about...That only socialism can take care of the welfare of the entire population. They say welfare state is a socialist prerogative," she said. "So we went for socialism, which could not fit into the Indian ethos. We have lived through this...We have lived through some of the dirty times of the license-quota raj," the minister added.

"The directional change that we are talking about is we have gone through those things (socialism and license-quota raj for industries). Now, we are not suspecting you (citizens and wealth creators) that you are always upto something. We trust you and invite you to participate in the development of

the country," she said.

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