PM hails Sitharaman's LS speech on Budget as 'comprehensive' picture for economic transformation

FM Sitharaman, in her speech, said the government has envisaged a total expenditure of Rs 53.47 lakh crore for the next financial year, up 7.7 per cent from the current fiscal ending March 31.

New Delhi: Prime Minister Narendra Modi on Thursday lauded Finance Minister Nirmala Sitharaman's reply in Lok Sabha to the discussion on the Union Budget, saying she gave a comprehensive picture of how this year's budget will contribute to the nation’s economic transformation.

Sitharaman, in her speech, said the government has envisaged a total expenditure of Rs 53.47 lakh crore for the next financial year, up 7.7 per cent from the current fiscal ending March 31.

In a post on X, Modi said, "In her speech in the Lok Sabha, Finance Minister Smt. Nirmala Sitharaman Ji gave a comprehensive picture of how this year's Budget will contribute to our nation's economic transformation. She emphasised Reform Express, the support to MSMEs, skilling, push to next-gen infrastructure, efforts to boost healthcare, education and more." The finance minister said the effective capital expenditure rises to Rs 17.1 lakh crore, which is 4.4 per cent of the GDP.

Besides, she said, the government is following the fiscal discipline and has projected the fiscal deficit at 4.3 per cent of the GDP or Rs 16.95 lakh crore for FY27.

She further said that the focus on the reduction of the debt-to-GDP ratio is part of the Fiscal Responsibility and Budget Management (FRBM).