Finance Minister Nirmala Sitharaman on Thursday presented the interim budget, the last before the Lok Sabha elections due by May.
In her nearly hour-long speech in the Lok Sabha, Ms Sitharaman said that her government on Governance, Development and Performance (GDP) and First Develop India (FDI). She also coined a new term “Rozgardata”.
Ms Sitharaman said that besides delivering high growth in terms of Gross Domestic Product (GDP), the Narendra Modi-led government is equally focused on a more comprehensive GDP — Governance, Development and Performance.
“Our government has provided transparent, accountable and people-centric trust-based administration with citizen first and minimum government and maximum governance approach,” she said in her address.
While speaking about Foreign Direct Investment (FDI), Ms Sitharaman said that her government is negotiating bilateral investment treaties with its foreign partners in the spirit of “First Develop India” (FDI).
She said that the Foreign Direct Investment inflow during 2014-23 was $596 billion. Calling it a “golden era”, she said this was “twice the infow” during the Congress government at the Centre between 2005 and 2014.
The Minister said that the “PM Mudra Yojana” has sanctioned 43 crore loans aggregating to Rs 22.5 lakh crore for the entrepreneurial aspirations of Indian youth.
“Besides that, Fund of Funds, Start Up India, and Start Up Credit Guarantee schemes are assisting our youth,” she said, adding that they are also becoming “rozgardata”.
In her interim budget speech, Nirmala Sitharaman said that Prime Minister Modi firmly believes that “we need to focus on four major castes — “Garib” (Poor), “Mahilayen” (Women), “Yuva” (Youth) and “Annadata” (Farmer).
“Their needs, their aspirations, and their welfare are our highest priority. The country progresses when they progress,” she said.
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