Presenting Interim Budget 2024, Finance Minister Nirmala Sitharaman on Thursday said the next five years will be ‘years of unprecedented development and golden moments’ to realise the goal of a developed India by 2047.

“Trinity of democracy, demography and diversity backed up by ‘Sabka Prayaas’ has the potential to fulfill aspirations of every Indian,” she highlighted.

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The minister said the vision for ‘viksit Bharat’ is that of prosperous Bharat, in harmony with nature, with modern infrastructure and providing opportunities for all to reach their potential.

Defining the GDP in her own way, the Finance Minister said, “Besides delivering on high growth, the government is equally focussed on 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.”

“There is macroeconomic stability, investments are robust, economy is doing well, people are doing well, with greater aspirations for future, average real income has increased by 50 per cent, inflation is moderate, people are getting empowered to pursue their aspirations, there is effective and timely delivery of programmes and large projects,” the Finance Minister said.

The Finance Minister highlighted that the economic management has complemented a people-centric inclusive development.

Highlighting its major elements, she said all forms of infrastructure are being built in record time, all parts of the country are becoming active participants in economic growth.

Digital public infrastructure is instrumental in formalisation of the economy, and GST has enabled ‘One Nation One Market One Tax’. Tax reforms have deepened and widened the tax base, she said.

Strengthening of the financial sector has made savings, investment and credit more efficient. The maiden international financial services centre in India — GIFT IFSC and Unified Regulatory Authority (International Financial Services Centre Authority — IFSCA) are creating a robust gateway for global capital and financial resources, she added.

Talking about the government schemes, she said the PM SVANIDHI provided credit assistance to 78 lakh street vendors. Total 2.3 lakh have received credit for the third time.

The Finance Minister highlighted that the PM Mudra Yojana has sanctioned 43 crore loans amounting to Rs 22.5 lakh crore for entrepreneurial aspirations of the youth. “Fund of Funds, Startup India and Startup Credit Guarantee Schemes are assisting our youth.”

She further stated that the electronic national agricultural market has integrated 1,361 mandis and is providing services to 1.8 crore farmers with a trading volume of Rs 3 lakh crore.

The sector is poised for inclusive and higher growth, she affirmed.