The combination of demography, democracy, and diversity has the potential to fulfil India's growth aspirations, Union Finance Minister Nirmala Sitharaman said Thursday morning as she presented the 2024 Interim Budget. Ms Sitharaman presented her sixth straight budget in a special session of Parliament today, beginning by recapping India's economic growth of the past 10 years - under Prime Minister Narendra Modi - and declared "the next five will (see) unprecedented development".
The Finance Minister spoke about the global context of development, acknowledging that increasingly fragile geopolitical situations across the world had led to new challenges.
Global affairs are becoming more complex, globalisation is being redefined with reshoring, disruption and fragmentation of supply chains and competition for critical minerals and technologies. A new world order is emerging..." she said.
Besides delivering on high growth, the government is equally focussed on a more comprehensive GDP - i.e., Governance, Development and Performance, Ms Sitharaman said.
"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."
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