Union Finance Minister Nirmala Sitharaman presented the interim Budget of 2024 on Thursday and listed out the 'strategy for Amrit Kaal'. She said the government will facilitate inclusive and sustainable development as well as create opportunities for all.
"Our government will adopt economic policies that foster and sustain growth, facilitate inclusive and sustainable development, improve productivity, create opportunities for all, help them enhance their capabilities and contribute to generation of resources to power investments and fulfil aspirations."
Sitharaman said that guided by the principles ‘reform, perform and transform’, the government will ensure timely and sufficient financial support, provide relevant technologies and offer appropriate training for Micro, Small, and Medium Enterprises (MSME) so that they can grow and compete globally. An integral aspect of this policy approach involves aligning the regulatory environment to facilitate the expansion of MSMEs.
The union finance minister said that to align with ‘Panchamrit’ goals the government will facilitate the high and more resource-efficient economic growth. “This will work towards energy security in terms of availability, accessibility and affordability.”#
She added that by meeting the investment needs the Government will prepare the financial sector in terms of size, capacity, skills and regulatory framework.
She said that the Modi government in its second term strengthened its mantra of development philosophy and covered all elements of inclusivity – social and geographical. She said that the country overcame challenges of the Covid pandemic and took long strides, “towards Aatma Nirbhar Bharat and laid solid foundations for Amrit Kaal.”
“In the second term, our government strengthened its vision of Sabka Saath, Sabka Vikas, and Sabka Vishwas," stated Sitharaman, emphasising the continuity of the government's commitment to the welfare of all citizens.
The union finance minister said that India has high aspirations, pride in present and hope and confidence in its bright future, she added.
Sitharaman tabled the interim budget as the Lok Sabha polls are due to be held this year. This is her sixth Budget. The interim budget will take care of the financial needs of the country until a government is formed after the Lok Sabha polls after which a full budget will be presented by the new government.
Ahead of the budget presentation, PM Modi praised “the first budget of Amrit Kaal” and stated that it would establish a foundation for the construction of developed India by 2047.