New Delhi [India], February 1 : Union Finance Minister Nirmala Sitharaman on Sunday created history by presenting her ninth consecutive Union Budget in Parliament, asserting that the "reform express" of the Narendra Modi-led National Democratic Alliance (NDA) government is well on its way and will continue to maintain momentum to fulfil its duties.
Highlighting the economic performance of the NDA government, Sitharaman said India's economic trajectory since 2014 has been marked by stability, fiscal discipline and sustained growth.
"The reform express is well on its way and will maintain its momentum to help us fulfill our duties. Since we assumed office 12 years ago, the country's economic trajectory has been marked by stability, fiscal discipline, sustained growth and moderate inflation. This is the result of conscious choices we have made even in times of uncertainty and disruptions," said Sitharaman.
She asserted that keeping Aatmanirbharta as a guiding principle, the government has strengthened domestic manufacturing capacity, ensured energy security and reduced critical import dependencies. She added that these measures have delivered a high growth rate of around 7 per cent and enabled substantial strides in poverty reduction and improvement in the lives of the people.
"Keeping Aatmanirbharta as a lodestar, we have built domestic manufacturing capacity, energy security and reduced critical import dependencies. Simultaneously, we have ensured that citizens benefit from every action of the Government, undertaking reforms to support employment generation, agricultural productivity, household purchasing power and universal services to people. These measures have delivered a high growth rate of around 7% and helped us make susbstantial strides in poverty reduction and improvement in the lives of our people," said Sitharaman.
She further stated that the NDA government has decisively and consistently chosen action over ambivalence and pursued far-reaching structural reforms, fiscal prudence and monetary stability, while maintaining a strong thrust on public investment.
"Our government has decisively and consistently chosen action over ambivalence, and we have pursued far-reaching structural reforms, fiscal prudence and monetary stability, while maintaining a strong thrust on public investment," Sitharaman added.
Referring to global challenges, Sitharaman said India is facing an external environment in which trade and multilateralism are under strain. She emphasised that India will continue to take confident steps towards Viksit Bharat by balancing ambition with inclusion.
"Today, we face an external environment in which trade and multilateralism are imperiled. And access to resources and supply chains are disrupted. New technologies are transforming production systems while sharply increasing demand on water, energy and critical minerals. India will continue to take confident steps towards Vikasit Bharat by balancing ambition with inclusion," said Sitharaman.