Union Budget Speech Highlights: ‘A testament to country’s middle class’, says Finance Minister Nirmala Sitharaman

Ahead of presenting the Budget, Sitharaman met President Droupadi Murmi astatine Rashtrapati Bhavan. This clip besides Sitharaman continued her contented of utilizing a integer tablet enclosed successful a accepted ‘bahi-khata’ benignant pouch.

A time earlier the Budget announcement, Sitharaman tabled the Economic Survey for 2024-25 successful Parliament. The Survey pegged GDP maturation successful the coming fiscal twelvemonth to beryllium betwixt 6.3% and 6.8%. The Survey said that nutrient inflation surged from 7.5% successful FY24 to 8.4% successful the existent fiscal twelvemonth portion cardinal employment related metrics specified arsenic unemployment rate, labour unit information complaint and the worker-to-population complaint person improved.

Authored by Chief Economic Advisor V Anantha Nageswaran and his squad of officials , the Survey recommended the Centre to boost user request done deregulation and implementation of enterprise-friendly reforms successful aspiring and emerging states. Considering India’s dependence connected China for galore products arsenic a cardinal risk, the Survey has
recommended that India needs to spell each retired to “attract, beforehand and facilitate further home and overseas investments”.

Gross non-performing assets (NPAs) successful the banking strategy declined to a 12-year debased of 2.6 per cent of gross loans and advances, the Survey said, citing the Reserve Bank of India’s Financial Stability Report (FSR), December 2024. Another cardinal indicator of the robustness of economy, operation has been a standout, gaining momentum since mid-FY21 and soaring astir 15 per cent supra its pre-pandemic trend—an awesome feat. The Survey besides pressed for harmless and satisfactory workplace and just attraction of employees.

Commencing the Budget league connected Friday, President Murmu emphasised connected the Central government’s decisions connected Waqf committee and One Nation, One Election. Referring to the moves, Murmu said the government’s 3rd word is seeing enactment being done astatine thrice the velocity of erstwhile administrations with a determination to extremity “policy paralysis. Murmu referred to the mediate people 8 times successful her code and listed the measures implemented by the Centre for the mediate class.

“The bigger the dreams of the mediate people are, the higher the federation soars. It is my authorities that has, for the archetypal time, openly acknowledged and appreciated the contributions of the mediate people connected each occasion,” Murmu said.

This is besides the Narendra Modi government’s archetypal full-year fund successful the 3rd word and is being presented against the backdrop of geopolitical uncertainties and slowing of the economical maturation complaint to a four-year low. Notably, the US has threatened tariffs against countries, including India.

The Narendra Modi government’s large canvass plank, Viksit Bharat by 2047, volition necessitate 8% yearly growth, a 35% concern rate, and enlargement successful manufacturing, AI, robotics, and biotechnology.

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