On February 1, Finance Minister Nirmala Sitharaman presented the last full-fledged budget of the second Modi government. Speaking about the foundation laid in the previous budget, the Finance Minister talked about the achievements in the past year.
She said, “This budget hopes to build on the foundation laid in the previous budget and the blueprint drawn for ‘India @ 100’. The ambitious, prosperous and inclusive India in which the fruits of development will reach every section, especially our youth, women, farmers, OBC, SC and ST.”
Speaking about the growing economy in India, she mentioned that the world has recognised the Indian economy as the bright star. She said, “Our current year’s economic growth is estimated at 7 per cent. Notably, this is the highest among all the major economies. This is despite the massive slowdown globally caused by Covid-19 and the war. The Indian economy is therefore on the right track and despite the time of challenges, heading towards a bright future.”
She mentioned how the focus on wide-ranging reforms and sound policies implemented through Sabka Prayas resulted in Jan Bhagidari (public involvement) and targeted support to those in need has let us perform well in trying times. She said, “India’s rising global profile because of the several accomplishments. Unique world-class digital infrastructure, for example, Aadhaar, CoWin and UPI, Covid vaccination drive in unparallel scale and speed, proactive roles in frontier areas such as achieving the climate-related goals, mission life and National Hydrogen Mission.”
Finance Minister informed the house how the government provided food to over 80 crore people during the Covid-19 pandemic. She said, “During the Covid-19 pandemic, we ensured that no one goes to bed hungry with a scheme to provide free food grains to over 80 crore persons for 28 months. Continuing our commitment to ensure food and nutritional security we are implementing from January 1, 2023, a scheme to supply free food grains to all Antodya and priority households for the next year. Under PM Garib Kalyan Anna Yojana, the entire expenditure of around two lakh crore will be borne by the central government.”
The G20 Presidency has provided India with unique opportunities on a global scale. She said, “In this time of Global challenges the G20 presidency gives us a unique opportunity to strengthen India’s role in the world economic order. With the theme of Vasudev Kutumbkam we are steering an ambitious people-centric agenda to global challenges and to facilitate sustainable economic development.”
Speaking about the efforts the Indian government made and its effects on the per capita income, she said, “The government’s efforts since 2014 have assured all citizens a better quality of life and life of dignity. The per capita income has more than doubled to 1.97 lakh rupees. In these nine years, the Indian economy has increased in size from the 10th to the 5th largest in the world. We have significantly improved our position as well as a well-governed and innovative country with a conducive environment for business as reflected in several global indexes. We have made significant progress in many sustainable development goals. The economy has become a lot more formalised as reflected in the EPAFO membership more than doubling to 27 crores and 7,400 crores of digital payments of Rs 126 lakh crore in 2022.”
Many schemes helped in improving the overall living standards of the Indians. She said, “The efficient implementation of many schemes with the universalisation of targetted benefits has resulted in inclusive development. Some of the schemes are 11.7 crore household toilets under Swatchh Bharat Mission, which is achieved. 9.6 crore LPG connections under Ujjwala. 220 Covid vaccinations to 102 crore persons. 47.8 crore PM Jan Dhan bank accounts. Insurance cover for 44.6 crore persons under PM Suraksha Bima Yojna PM Jivan Jyoti Yojna. Cash transfer of 2.2 lakh crore rupees to 11.4 crore farmers under PM Kisan Samman Nidhi.”
To improve public involvement in India’s growth, The government has focused on several missions including providing opportunities to youth, providing a strong environment for growth and job creation and strengthening macroeconomic stability. Schemes like Deendayal Antodya Yojna National Rural Livelihood Mission, PM Vishwakarma Kaushal Samman and others have laid the foundation for a better future for the country.
