Union Finance Minister Nirmala Sitharaman criticized the UPA government's leadership and policies, blaming an "extra-constitutional" body for running the government and causing India to be labeled as one of the "Fragile Five" economies. She contrasted the UPA's response to the 2008 global financial crisis with the NDA government's handling of the Covid-19 pandemic, highlighting corruption scandals and alleged kickbacks during the UPA regime. Sitharaman also emphasized the Modi government's efforts to reform public sector banks and the coal sector, while the Congress accused the White Paper of being a "political manifesto" for the upcoming 2024 General Elections.
Finance Minister Nirmala Sitharaman criticized the UPA government, calling it "rudderless and leaderless" and accusing Sonia Gandhi of acting as a "Super Prime Minister". She also targeted Rahul Gandhi for his 2013 ordinance incident, alleging arrogance and disrespect towards then-Prime Minister Manmohan Singh. Sitharaman claimed that the UPA's leadership issues led to mismanagement and highlighted Sonia Gandhi's extra-constitutional authority as chairperson of the National Advisory Council. The Congress dismissed the government's white paper as a "mountain of lies", with its leader in the Lok Sabha, Adhir Ranjan Chowdhury, calling it an "electoral manifesto".
Union finance minister Nirmala Sitharaman presented a white paper on the Indian economy, comparing the economic state under the 10-year UPA rule to the present under the NDA. The document highlights the transformation from being among the 'fragile five' economies to the 'top five', citing improvements in various sectors such as telecommunications, natural resource auctions, inflation, foreign exchange reserves, infrastructure, and development programs. The white paper aims to showcase the progress made during the NDA government's tenure and contrasts it with the economic challenges faced during the UPA government's rule.
Finance Minister Nirmala Sitharaman presented a low-key interim budget just ahead of the national election, adhering to the traditional lack of freebies in such budgets. She had previously cautioned against expecting any significant announcements, and indeed, the budget did not contain any surprises or extravagant measures, in line with the expected purpose of simply seeking approval for government spending for a few months.
Finance Minister Nirmala Sitharaman presented a low-key interim budget just ahead of the national election, refraining from offering any freebies as expected. She had previously cautioned against expecting any excitement, and indeed, the budget was devoid of any surprises or giveaways, in line with the traditional uneventful nature of interim budgets.
Finance Minister Nirmala Sitharaman explains that the Interim Budget is based on the Modi Government’s 10-year performance and the mantra of "sabka saath, sabka vikas," emphasizing empowerment over entitlement. The budget aims to financially empower people and create opportunities, with a focus on capital expenditure for sustainable recovery. Sitharaman highlights the importance of fiscal prudence, improved revenue, and avoiding wastage, while also addressing the growing aspirations and contributions from newer areas of economic activity. The budget includes measures to support research and innovation, digital infrastructure, and state development, with a focus on leveraging India's demographic advantage for long-term planning and overall development.
India's interim budget for 2024 focuses on continued infrastructure funding, with over $130 billion allocated for physical assets like roads and ports, but shuns big spending on social schemes and tax relief measures for the middle class. The government aims to build 20 million affordable houses in the next five years and keep GDP growth at about 7%, while curbing the fiscal deficit. Critics, including former central bank governor Raghuram Rajan, express concerns over inadequate spending on health and education, unemployment, and uneven consumption growth.
The 2024-25 budget presented by Finance Minister Nirmala Sitharaman signals the confidence of the Modi government in securing a third term, as it refrains from offering any surprises or fiscal handouts. Emphasizing long-term measures for India's development by 2047, the budget conveys a message of self-assurance, indicating that the government does not feel the need to resort to voter bribery or excessive political grandstanding.
Finance Minister Nirmala Sitharaman presented an interim budget aligning with Prime Minister Narendra Modi’s campaign themes, emphasizing social justice and addressing the needs of the poor, women, youth, and farmers. She described the government’s measures as "secularism in action" and highlighted the fight against corruption. Additionally, she proposed setting up a committee to address challenges arising from population growth and demographic changes, aligning with the BJP ideology. The budget focused on fair resource distribution and systemic inequalities, with a detailed roadmap for the pursuit of Viksit Bharat to be presented in the full budget in July.
India's Finance Minister Nirmala Sitharaman announced that the country's fiscal deficit for 2025 is expected to narrow to 5.1% while boosting infrastructure spending, with capital expenditure set to rise by 11.1% to 11.11 trillion rupees. She emphasized the development of air connectivity and highlighted the potential of the India-Middle East-European Union corridor as a "gamechanger." Long-term interest-free loans will be given to states for tourist center development, and the interim budget also focuses on poverty, youth, women, and farmers. The budget is seen as a stop-gap financial plan during an election year, with the full union budget to be released after the elections.
