Bengaluru-Hyderabad High-Speed Rail to Boost South India's Economy: BJP

"The announcement of seven high-speed rail corridors in the budget will inject fresh momentum into economic activity by rapidly connecting major cities across the country. The Bengaluru-Chennai and Bengaluru-Hyderabad high-speed rail routes will further strengthen Bengaluru's position as a key economic hub of South India," he said.

He noted that this will, in turn, boost employment generation, industrial expansion, trade, and the logistics sector.

Ashoka claimed that under the decisive leadership of Prime Minister Narendra Modi, the Union Budget 2026-27 presented by Union Finance Minister Nirmala Sitharaman is a visionary and balanced budget that steers the country towards the goal of "Viksit Bharat by 2047".

He said that economic discipline, people-centric policies, and a development-oriented approach form the core philosophy of this budget.

He pointed out that the budget clearly outlines three major national priorities, adding that first, accelerating economic growth by enhancing productivity, and second, achieving inclusive development by directly responding to the aspirations of the people.

"Third, ensuring opportunities for every citizen through the principle of Sabka Saath, Sabka Vikas. This vision distinctly reflects the governance approach of the government led by Prime Minister Narendra Modi," he claimed.

Special emphasis has been laid on the agriculture sector in this budget. Initiatives such as the Mahatma Gandhi Gram Swaraj Scheme to promote khadi and handloom products, special packages for coconut, sandalwood, and cashew cultivation, and the target to establish cashew and cocoa as global export products by 2030 are significant steps towards increasing farmers' incomes. These measures will create new markets and economic opportunities for farmers across the country, including Karnataka, Ashoka stated.

"The announcement of support for Micro, Small and Medium Enterprises (MSMEs), along with an allocation of Rs 40,000 crore for the semiconductor sector, will provide a major boost to the industrial sector. This will strengthen the industrial ecosystem of Bengaluru and Karnataka and generate greater employment opportunities for the youth," he stated.

He said that with the interests of the middle class in mind, several important simplifications have been introduced in the tax system.

"A penalty of only 10 per cent for delayed income tax filing without any criminal liability, reduction of the Tax Collected at Source (TCS) on health and education services from 5 per cent to 2 per cent, and the introduction of a new Income Tax Act aimed at creating a simple and transparent tax regime are all people-friendly measures," he said.

Ashoka said that the reduction in prices of 17 essential medicines and medicines for six rare diseases, along with tax exemption on accident compensation, are compassionate, people-oriented decisions that ease the financial burden on ordinary citizens.

"These steps reflect a humane approach towards strengthening the healthcare sector," he said.

Ashoka said that overall, this budget serves as a balanced blueprint of economic discipline, social justice, and inclusive development, and possesses the strength to propel India into the league of leading nations of the world.

"Heartfelt congratulations and gratitude to Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman for presenting this people-centric and development-driven budget that charts a clear course for the nation's future," he said.

- IANS