New Delhi, Feb 1 (IANS): Prime Minister Narendra Modi hailed the budget presented in Parliament on Thursday, saying that it is not merely an interim budget but an inclusive and innovative budget.

"This budget carries the confidence of continuity. It will empower all pillars of developed India -- the youth, the poor, women, and farmers," PM Modi said.

Commending Finance Minister Nirmala Sitharaman for her vision, Prime Minister Modi said that Nirmala's budget is a budget for building the future of the country.

"This budget carries the guarantee of strengthening the foundation of Viksit Bharat by 2047," Modi said.

He said that this budget is a reflection of the aspirations of Young India.

He highlighted two decisions taken in the budget, saying that a fund of Rs 1 lakh crore has been announced for research and innovation.

He also highlighted the extension of tax exemptions for startups in the budget.

While keeping the fiscal deficit under control, the Prime Minister informed that the total expenditure has seen a historic increase to Rs 11,11,111 crores in this budget.

“In economists’ parlance, this is a kind of sweet spot,” Modi said.

He said that the announcement to manufacture 40,000 modern bogies of Vande Bharat Standard and install them in general passenger trains will further heighten the comfort and travel experience of crores of passengers on different rail routes of the country.

"We set a big goal, achieve it, and then set an even bigger goal for ourselves," he said.

Highlighting the government's efforts for the welfare of the poor and middle class, he informed about the construction of over 4 crore houses in villages and cities and increasing the target to build 2 crore more houses.

Emphasising the empowerment of women, PM Modi said, "Our goal was to make 2 crore 'Lakhpatis' among women. Now, this goal has been increased to make 3 crore Lakhpatis."

He also praised the Ayushman Bharat Yojana for its significant assistance to the poor, extending its benefits to Anganwadi and ASHA workers.

He emphasised on the government’s emphasis to empower the poor and middle class by creating new opportunities for them in this budget.

He also mentioned the Roof Top Solar Campaign where 1 crore families will avail free electricity, while also earn an income of Rs 15,000 to Rs 18,000 per year by selling excess electricity to the government.