India is the world's fastest-growing economy, and the government will ensure tremendous growth in the coming years across the spectrum on the way to becoming "Viksit Bharat," Union Finance Minister Nirmala Sitharaman said on Saturday.
Presenting her eighth consecutive budget and the NDA government's second full Union Budget of its third term, the Finance Minister said the Budget focuses on spurring agricultural growth, empowering farmers, supporting MSMEs, and ensuring innovation while promoting exports.
"MSMEs, agriculture, and exports are some of our growth engines, and we will continue to strengthen these sectors," she said.
"This Budget aims to further accelerate growth, secure even more inclusive development, invigorate private sector investments, improve household sentiments, and bolster the power of India's rising middle class," Finance Minister Sitharaman said in her opening comments.
The Budget Session of Parliament, which started on Friday, will be divided into two phases: the first phase began on January 31 and will run until February 13, and the second phase will start on March 10 and end on April 4.
FM Sitharaman had broken the record of former Prime Minister and Finance Minister Morarji Desai last year when she presented the Union Budget.
The Economic Survey 2024-25 focuses on financial inclusion, with easier access to credit for rural households and small businesses through microfinance institutions, self-help groups, and other intermediaries. It outlines key initiatives in infrastructure, rural housing, sanitation, clean fuel, social protection, and connectivity, along with efforts to boost rural livelihoods.
The survey also states that rising private consumption in the country is helping India's domestic economy remain steady despite global uncertainties.
Read also| India’s Digital Economy Projected to Contribute One-Fifth of GDP by 2030
