NEW DELHI: Finance minister
Nirmala Sitharaman, in a post Budget conference, said the Budget has been presented with a
10-year vision
in mind.
The finance minister, in her Budget speech, emphasised on the need for structural reforms for achieving a $5 trillion economy. The
Indian economy stood at $1.85 trillion five years back, has reached $2.7 trillion now and is within capacity to reach $5 trillion in the next few years.
The Indian economy will grow to become $3 trillion economy in the current year and the sixth largest in world, Sitharaman added.
"We need to invest in infrastructure, digital economy and job creation in small and medium enterprises," Sitharaman said.
She said that in terms of
Purchasing Power Parity
(PPP), India has become the third largest economy in the world after the US and China.
Announcing various infrastructure projects, the minister said: "I wish to propose a number of initiatives as part of kick-starting the virtuous cycle of domestic and foreign investment."
She also announced a slew of steps to scale up India's infrastructure including augmenting 1,25,000 km of rural roads under the
Pradhan Mantri Gram Sadak Yojana
at a cost of Rs 80,250 crore, creating a national highways grid, boosting metro and rail infrastructure and emphasised on the measures for a self-reliant aviation industry.
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