Union Budget 2019 India: Finance Minister Nirmala Sitharaman, presenting the maiden budget of re-elected Narendra Modi government, on Friday said that the economy looks towards the finance minister to bring about reforms and introduce sops, as it tackles economic slowdown.
Union Budget 2019 India: Finance Minister Nirmala Sitharaman, presenting maiden budget of re-elected Narendra Modi government, on Friday said that the economy looks towards the finance minister to bring about reforms and introduce sops, as it tackles economic slowdown. The budget has already talked about India moving fast on its way to become a $5 trillion economy by FY25. Among the major points mentioned by the finance minister in the budget so far, these 10 points highlight the vision shared by the government.
- Social infra, digital infra in every sector
- Building pollution free environment
- Export of food grains
- ‘Make in India’ with stress on small businesses
- Water management and clean rivers
- Ayushman Bharat and Clean India
- Space programmes
- Safety of citizens
- One nation, one grid to ensure power connectivity
- Examining opening up of FDI in aviation, media and animation
In her budget speech so far, Finance Minister Nirmala Sitharaman also proposed changes to revive domestic and foreign investment. There is also a dire need to invest heavily in infrastructure, digital economy and job creation in MSMEs or small businesses, she added. Having shown that ‘reform, perform and transform’ can succeed, the finance minister said that the country is all set to achieve new heights through its reform measures.
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Finance Minister Nirmala Sitharaman on Thursday presented the Economic Survey in the parliament had projected GDP (gross domestic product) growth at 7 per cent in the 2019-20 fiscal year from an estimated 6.8 per cent in the previous year. The Survey had also said that the rate of investment has been seen picking up in FY20 on higher credit growth and improved demand. The experts had expected that the budget may propose measures to deal with the ongoing slowdown in the economy.