Budget 2024: Viksit Bharat Budget lays foundation for developed India, PM Modi says

NEW DELHI: Prime Minister Narendra Modi on Thursday termed the interim budget, presented by finance minister Nirmala Sitharaman, 'inclusive and innovative'.

In a televised address, he said that the budget lays foundation for a developed India.

"This interim budget is inclusive and innovative. It has confidence of continuity. It will empower all four pillars of Viksit Bharat - yuva (youth), garib (poor), mahila (women) and kisan (farmers). This Budget gives the guarantee of making India a developed nation by 2047," PM Modi said in his first remarks.

The Prime Minister added that the Union interim budget has a reflection of the young aspirations of a young India.

Citing the announcement of Rs 1 lakh crore fund for research and innovation, he noted that the "historic" budget has also offered rebates for start-ups. It has provisions for a huge capital expenditure of Rs 11.11 lakh crore while keeping the fiscal deficit under control, he said.

Presenting the interim budget in the Parliament, Union finance minister Nirmala Sitharaman declared that the Indian economy has undergone a profound positive transformation over the last decade.

"The Indian economy witnessed profound positive transformation in the last 10 years," she said.

The finance minister said that the government believes in 'empowering the poor' and in the last ten years, at least 25 crore people have been assisted to get freedom from multidimensional poverty.

With this budget presentation, Sitharaman equalled the record set by former PM Morarji Desai, who as finance minister, presented five annual budgets and one interim budget between 1959 and 1964.

Ready to Master Stock Valuation? ET’s Workshop is just around the corner!