Patna, Feb 1 (SocialNews.XYZ) Reacting to the Union Budget presented by Finance Minister Nirmala Sitharaman on Sunday, Bihar Deputy Chief Minister Samrat Choudhary praised Prime Minister Narendra Modi and the Finance Minister, calling the Budget a "decisive step toward the resolution of a developed India ('Viksit Bharat')".
While sharing a post on social media platform X, Deputy Chief Minister Choudhary said that he listened to the live broadcast of the Budget along with senior Bharatiya Janata Party leaders, officials, and workers.
"Under the leadership of Prime Minister Narendra Modi, this Budget presented by Finance Minister Nirmala Sitharaman will fulfill the aspirations of the common people and lay a strong foundation for a developed India by strengthening their capabilities," he added.
Highlighting key financial reforms, the Deputy Chief Minister said a high-level committee will be constituted to conduct a comprehensive review of the banking sector, with the objective of making banking services more modern, transparent, and people-centric.
He also added that the Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) will be restructured to enhance the capacity and efficiency of public sector non-banking financial companies (NBFCs).
"These steps will make financial assistance in the energy sector more effective and accelerate rural electrification. Banking and financial reforms form the backbone of economic growth," Deputy Chief Minister Choudhary said.
Referring to tax reforms, he welcomed the decision to implement the new Income Tax Act from April 1, 2026, saying that simplified rules for small taxpayers, extended deadlines for income tax return filing, relief in foreign asset disclosures, and reduction in core tax demands will strengthen ease of doing business and empower honest taxpayers.
Calling the Budget "trust-based and reform-oriented", Deputy Chief Minister Choudhary said it reinforces transparency, confidence, and economic discipline.
He also lauded the Union government's focus on nuclear energy, describing it as a far sighted move.
"Extending the basic customs duty exemption on essential imports for nuclear power projects until 2035, and applying it across all nuclear plants irrespective of capacity, will strengthen clean energy, self-reliance, and India's long-term energy security," he said.
Deputy Chief Minister Choudhary concluded that the Union Budget reflects the government's strong commitment to sustainable growth and the vision of 'Viksit Bharat'.
Source: IANS
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