Thanking the voters for bringing back Modi government to power for a second term, Union Finance Minister, Nirmala Sitaraman in her maiden budget speech declared that Indian economy will grow to become a $3 trillion economy in the current year itself.
Finance Minister Nirmala Sitharaman: The Indian economy will grow to become a $3 trillion economy in the current year itself. It is now the sixth largest in the world. 5 years ago it was at the 11th position. #Budget2019 pic.twitter.com/SSPypa8ajC
— ANI (@ANI) July 5, 2019
Reportedly, the Union Finance Minister added that India is now the sixth largest in the world in just five years from being the 11th largest five years ago in 2014.
“It took us over 55 years to reach $1 trillion dollar economy. But when the hearts are filled with hope, trust & aspiration, we in just 5 years, added $1 trillion. It is well within our capacity to reach the $5 trillion in the next few years. We will reach a $3 trillion economy in the current year,” said Sitharaman.
Nirmala Sitharaman in her speech said that the government needs to invest heavily in infrastructure, job creation and small and medium industries. All of India’s private sector firms have played a role in growth. Govt does not look down on legitimate profit-making, India Inc is job creator, wealth creator, said Nirmala Sitharaman.
FM Nirmala Sitharaman also linked Narendra Modi led government’s ambitious ‘Make in India’ scheme with ‘Swadeshi’ movement of the Independence era. She said these movements encouraged the local enterprise and self-reliance.