Praising his government's last Budget ahead of the Lok Sabha elections, Prime Minister Narendra Modi has said the capital expenditure will touch a record high of 11,11,111 crore while keeping the fiscal deficit in check, achieving a "sweet spot".

In a speech in Hindi after Finance Minister Nirmala Sitharaman presented the Interim Budget for 2024, the PM said the decisions will not only aid the development of advanced 21st-century infrastructure but also lead to the generation of "countless" new employment opportunities for youth. 

Stating that the Budget reflects the young aspirations of young Bharat, PM Modi said two key decisions have been taken in this direction - setting up a Rs 1 lakh-crore fund for research and innovation, and increasing tax exemption for startups. 

The PM also highlighted the decision of upgrading 40,000 railway coaches to Vande Bharat standards and said that this will lead to crores of passengers on various rail routes enjoying a comfortable journey.

Asserting that his government sets high targets, achieves them and then aims even higher, PM Modi said over 4 crore houses have been constructed for the poor in villages and cities, and the government is now aiming to build 2 crore more.

He said a target had been set to make 2 crore women 'Lakhpati Didis', which has now been revised to 3 crore. The 'Lakhpati Didi' scheme provides skill development training to women in self-help groups (SHGs) to enable every SHG household to earn an income of at least Rs 1 lakh a year.

'New Income Avenues'

"The Ayushman Bharat health insurance scheme has helped the poor in a big way and Anganwadi and ASHA workers will now also benefit from it. In this Budget, there has been a big push for empowering the poor and people from the middle class, and generating new avenues of income generation for them," the PM said.

"The rooftop solar programme will enable 1 crore families to not only get free electricity but earn an additional Rs 15,000 to Rs 20,000 a year by selling the surplus power to the government," he added.

Pointing out that the direct tax demand relief will benefit 1 crore people from the middle class, PM Modi took aim at previous governments and said they had hung a sword over the head of the common man for decades. 

The PM said several key decisions have also been taken to increase the income and reduce expenses of farmers, including the use of Nano DAP (Di-Ammonia Phosphate).