Harping on the achievements of the Modi govt, Finance Minister Nirmala Sitharaman today presented her sixth consecutive Budget. This Interim Budget sets the tone for the upcoming Lok Sabha 2024 Elections.
Stressing on structural reforms, pro-people programme & employment opportunities, FM Sitharaman in her speech said "based on stupendous work, we expect our government will be blessed again by the people with a resounding mandate."
Here are the key statements from her speech:
Indian economy witnessed a profound positive transformation in the last 10 years.
People of India looking ahead to the future with hope and options.
Structural reforms, pro-people programme & employment opportunities helped the economy get new vigour.
Modi government covered all aspects of inclusivity.
India overcame the challenges of Covid-19, and created foundations for a self-reliant nation.
Based on stupendous work, we expect our govt will be blessed again by the people with a resounding mandate.
Worries about food being eliminated through free ration for 80 crore people.
India was facing enormous challenges when Modi government took office in 2014; govt overcame those in right earnest.
Minimum support prices for 'Annadata' (farmers) increased periodically, appropriately.
We are working to make India a developed country by 2047.
We are addressing systemic inequalities; we focus on outcomes so that socio-economic transformation is achieved.
For our government, social justice is an effective and necessary model.
We focus on outcomes and not outlays.
Poor, women, youth and farmers are four castes for our government.
Earlier approach of tackling poverty through entitlement resulted in very modest outcomes.
In last 10 years, 25 crore people got freedom from multi-dimensional poverty.
There is transparency and assurance that benefits are transferred to all eligible citizens.
11.8 crore farmers provided financial assistance under PM KISAN Yojana.
National Education Policy is ushering transformational reforms.
Saturation approach of covering all eligible people is true and comprehensive achievement of social justice; this is secularism in action.
Under PM Mudra Yojana, 43 crore loans aggregating to Rs 22.5 lakh crore were extended.
Direct benefit transfer of Rs 34 lakh cr through Jan Dhan accounts have resulted in savings of Rs 2.7 lakh crore.
India today has 80 chess grandmasters compared to 20 in 2010.
30 crore Mudra yojana loans given to women in 10 years.
Skill India Mission has trained and upskilled 1.4 crore youth in the country, says Finance Minister while unveiling Interim Budget.
Making Triple Talaq illegal, reserving one-third legislative seats for women highlight government's women empowerment programme.
Govt is focused on more comprehensive GDP, governance, development and performance.
There is macro economic stability and economy is doing well.
Govt is focused on more comprehensive GDP, governance, development and performance.
Inflation has moderated: FM Sitharaman in Budget speech on price management by govt.
Economic management over past 10 years has complemented people-centric inclusive development.
Modi govt is addressing systematic inequalities which have plagued society.
STEM (science, technology, engineering, and mathematics) courses has seen enrolment of 43 per cent women, highest in the world.
Tax reforms have led to widening tax base.
All forms of infrastructure are being built in record time.
Proactive inflation management has helped keep inflation within manageable level.
Strengthening of financial sector helped make savings, credit and investments more efficient.
Our govt has provided transparent, accountable, trust-based administration with citizen first approach.
Global affairs are becoming more complex and challenging with wars and conflicts.
New world order emerging; India successfully navigated global challenges of fuel, fertiliser price spike.
Recently announced India Middle East Europe Economic Corridor will be game changer for India.
International Financial Services Centres Authority (IFSCA) has created robust gateway for flow of overseas capital.
The next 5 years will be years of unprecedented development and golden moments to realise the dream of developed India by 2047.
FM outlines strategy for 'Amrit Kaal' in her Budget speech.
Govt will take up next generation reforms to facilitate growth.
India as a G20 host showed forward way and built consensus for solutions for problems being faced by the world.
To meet investment needs, our govt will prepare financial sector in terms of size, capacity, skills, regulatory framework.
Govt will facilitate sustaining high and more resource efficient economic growth to ensure energy security for country.
We are close to achieving target of 3 cr under rural housing scheme; 2 cr more to be constructed in next 5 years.
Government's priority is to adequately and timely finance technology for MSMEs to grow.
Govt will adopt economic approach that facilitates sustainable development and improves productivity.
Rooftop solarisation to ensure 1 cr household free electricity of up to 300 units per month, household to save Rs 15,000-18,000 annually.
Govt will launch a housing scheme for deserving middle class to buy or build own houses.
Govt to set up more medical colleges utilising existing hospital infrastructure.
The govt will pay utmost attention to ensure development of eastern region and its people.
Healthcare cover under Ayushman Bharat to be extended to all ASHA & Anganwadi workers.
Efforts of value addition in agri sector and increasing farmers' income will be stepped up.
Strategy to be developed for Atma Nirbharta for oilseeds production: FM Sitharaman.
FM Sitharaman announces plans to increase milk and dairy production.
Application of nano DAP on various crops will be expanded in agri climatic zones.
India largest milk producer but with low productivity.
Application of nano DAP on various crops will be expanded in agri climatic zones.
New scheme to be launched for strengthening deep-tech technology for defence sector.
Govt to promote public and private investment in post-harvesting agriculture activities.
Three major railway corridors, including for cement, to be constructed.
Capital spending for 2024-25 raised by 11 per cent to Rs 11.11 lakh crore or 3.4 per cent of GDP.
40,000 normal railway bogies will be converted to Vande Bharat standard.
Indian air carriers pro-actively placed orders for 1,000 new aircraft.
Viability gap funding will be provided for one GW offshore wind energy.
Tripling of capex in last 4 years resulted in a multiplier effect on economic growth and employment generation.
Viability gap funding for harnessing offshore wind energy capacity of 1GW for achieving net zero emissions by 2070.
Blending of compressed biogas in compressed natural gas for transport and piped natural gas will be mandatory.
Bio manufacturing & bio foundry scheme to be launched to provide environment-friendly alternatives for bio-degradable production.
Govt to expand EV ecosystem for supporting charging infra; e-buses for public transport network to be encouraged.
Our economic strength has made country an attractive destination for business and conference tourism.
Tourism has tremendous opportunities; Govt to take up development of iconic tourist centres to attract foreign tourists.
Our government is ready to assist states in faster development of aspirational districts and blocks.
Coal gasification and liquefaction of 100 metric ton to be set up by 2030.
Spiritual tourism has tremendous opportunities.
India received FDI inflow of USD 596 billion since 2014, double the inflow between 2004 and 2014.
Govt to launch Blue Economy 2.0 to promote aquaculture.
Every challenge of pre-2014 was overcome through our economic management.
50-year interest-free loans of Rs 75,000 cr to be extended to states to realise dream of developed India.
Fiscal deficit expected at 5.8 pc of GDP in FY24, down from 5.9 pc estimated earlier.
Fiscal deficit for 2024-25 is estimated at 5.1 pc of GDP, down from 5.8 pc in current financial year.
Tax receipts for 2024-25 projected at Rs 26.02 lakh crore.
Number of tax filers swelled by 2.4 times, direct tax collection trebled since 2014.
We continue on path of fiscal consolidation to reduce fiscal deficit to 4.5 pc in 2025-26.
Processing time of tax returns reduced from 93 days in FY14 to 10 days; refunds made faster.
Tax base of GST more than doubled.
Sitharaman says no changes in tax rates for direct and indirect taxes, including import duties.
Govt to raise Rs 14.13 lakh crore for market by issuing dated securities during 2024-25.
GST has reduced compliance burden; average monthly GST collection doubled to Rs 1.66 lakh crore.
Focus has been to improve services for tax payers: FM in her Budget speech.
Govt proposes to withdraw tax demand of up to Rs 25,000 up to 2009-10, to benefit 1 crore taxpayers.
Government will encourage vaccination for girls in the age group of 9-14 years to prevent cervical cancer.
Some tax benefits to startups and pension funds proposed.
Govt to withdraw old disputed direct tax demands of up to Rs 25,000 till FY2009 and Rs 10,000 for 2010-11 to 2014-15.
Apt to look where we were at 2004, and where we are now; Govt to lay white paper in Parliament on mismanagement of economy prior to 2014.
Indian economy has been put on strong, sustainable growth path.