Union Finance Minister Nirmala Sitharaman on Thursday presented the Interim Budget 2024.
Indian economy has witnessed profound transformation in last 10 years, she said.
“In 2014, the country was facing enormous challenges, the government overcame those challenges and undertook structural reforms, pro people reforms were undertaken, conditions for jobs and entrepreneurship were set in, fruits of development started reaching people at scale, country got a sense of new purpose and hope,” Finance Minister said.
“Our young country has high aspirations, pride in present and hope and confidence in its bright future.”
“In second term, the government strengthened its mantra and our development philosophy covered all elements of inclusivity, namely social and geographical. With a whole of nation approach, the country overcame challenges of the COVID-19 pandemic, took long strides towards Aatma Nirbhar Bharat and laid solid foundations for Amrit Kaal,” she added.
In the last 10 years, the government has assisted 25 crore people to get freedom from multidimensional poverty. When the poor became empowered partners in development process, government’s power to assist them increases manifold, she said.
Finance Minister highlighted that every year under PM Kisan Samman Yojana, Direct financial assistance is provided to 11.8 crore farmers, including marginal and small farmers.
“Crop insurance is given to 4 crore farmers under PM Fasal Bima Yojana. These are assisting farmers in producing food for the country and for the world,” she said.
The Finance Minister has highlighted that the PM Mudra Yojana has sanctioned 43 crore loans amounting to Rs 22.5 lakh crore for entrepreneurial aspirations of your youth.
“Fund of Funds, Startup India and Startup Credit Guarantee Schemes are assisting our youth.”
She further stated that the electronic national agricultural market has integrated 1,361 mandis and is providing services to 1.8 crore farmers with trading volume of 3 lakh crores of rupees
The sector is poised for inclusive and higher growth, she affirmed.
Defining the GDP in her own way, the Finance Minister said, “Besides delivering on high growth, govt is equally focussed on more comprehensive GDP: Governance, Development and Performance.”
“Our government has provided transparent, accountable and people-centric trust-based administration with citizen first and minimum government and maximum governance approach.”
“There is macroeconomic stability, investments are robust, economy is doing well, people are doing well, with greater aspirations for future, average real income has increased by 50%, inflation is moderate, people are getting empowered to pursue their aspirations, there is effective and timely delivery of programmes and large projects,” the Finance Minister said.