Itanagar, Feb 1 (PTI) Arunachal Pradesh Chief Minister Pema Khandu on Thursday hailed the interim budget, saying it reiterates the collective resolve to maintain the pace of all-round inclusive growth in a seamless manner.

Union Finance Minister Nirmala Sitharaman on Thursday presented a vote on account or an interim budget for the 2024-25 fiscal.

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"Encapsulating the vision of Hon'ble PM Shri @narendramodi ji to achieve the goal of #ViksitBharat, the interim #UnionBudget2024 presented by Hon'ble FM Smt @nsitharaman ji reiterates our collective resolve to maintain the pace of all-round inclusive growth in a seamless manner," Khandu posted on X.

He said that with a significant increase in the capital expenditure outlay to 11.1 per cent (Rs 11.11 lakh crore for FY 25), the budget propels India towards the ambitious target of becoming a five trillion-dollar economy by 2027.

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The extraordinary focus on R&D (research and development) spending is also a decisive step forward, the chief minister said in another social media post.

The Union finance minister announced a Rs 11.11 lakh crore spending on infrastructure and vowed to continue reforms as she resisted resorting to populist measures in Modi government's last Budget before general elections, instead choosing to stay on the path of cutting deficit while bolstering measures for focus groups.

Sitharaman also proposed no changes in income tax rates for individuals and corporates, as well as import duty but offered amnesty for disputed income tax demands of the period prior to 2014-15 as a relief to small taxpayers.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)