National Desk, Feb 1: Union Finance Minister Nirmala Sitharaman unveiled a roadmap for India’s journey towards “Viksit Bharat” by introducing a new “GDP” mantra: Governance, Development, and Performance. This approach, outlined during a post-budget press conference, emphasizes key areas crucial for sustained and inclusive growth.
Sitharaman highlighted the government’s effective governance strategies in managing the economy. This resulted in a 50% increase in average income, reflecting an improved standard of living for citizens. The economy’s performance was also lauded, with over 7% growth for three consecutive years and reduced inflation. Sitharaman credited these achievements to cleaning up the banking system and bringing down the fiscal deficit.
Development was another focus area, as evidenced by the increased allocation for capital expenditure in infrastructure projects. This 11% increase, coupled with rising private sector investments, is expected to accelerate economic growth. Sitharaman also emphasized the transparency of the budget-making process and the role of Digital Public Infrastructure (DPI) in boosting efficiency and growth.
Looking ahead, Sitharaman announced a White Paper comparing India’s economic performance in the last decade with the previous ten years. This document will shed light on the effectiveness of the “GDP” approach and guide future strategies. In conclusion, Sitharaman urged rating agencies to acknowledge the government’s fiscal consolidation efforts, exceeding initial targets.
By prioritizing Governance, Development, and Performance, India strives to achieve the vision of a developed nation. With focused investments, improved living standards, and transparent governance, the country paves the way for a brighter future.
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