Prime Minister Modi expressed optimism on Tuesday that India would become the world’s third-largest economy during his third term, citing the nation’s current 8% growth rate.
“We have achieved significant milestones even after facing the pandemic,” he remarked at the Confederation of Indian Industry post-budget conference.
Modi highlighted that over the past decade, the Budget’s size has tripled to Rs 48 lakh crore, and Capital Expenditure has grown more than fivefold to over Rs 11.11 lakh crore.
He began his address by questioning, “How’s the josh?”
#WATCH | Delhi: Addressing the inaugural session of ‘Journey Towards Viksit Bharat: A Post Union Budget 2024-25 Conference’, PM Modi says, “… Investors from all over the world want to come to India. World leaders are full of positivity towards India… In the NITI Aayog… pic.twitter.com/DJgARyyKB8
— ANI (@ANI) July 30, 2024
Prime Minister Modi drew a comparison between the budget of the previous government and the Budget 2024 recently presented by Finance Minister Nirmala Sitharaman.
“In 2013-14, during Dr. Manmohan Singh’s government, the budget was Rs 16 lakh crore. Today, our Budget has tripled to Rs 48 lakh crore,” he stated.
Modi pointed out that capital expenditure under the NDA government has soared to over Rs 11 lakh crore, which is five times higher than the Rs 90,000 crore allocated in 2004 by the UPA-I’s initial budget after former PM Atal Bihari Vajpayee’s tenure ended.
#WATCH | Delhi: Addressing the inaugural session of ‘Journey Towards Viksit Bharat: A Post Union Budget 2024-25 Conference’, PM Modi says, “…In this budget, the PM package worth Rs. 2 lakh crores has been announced. It well benefit 4 crores youth. This PM package is holistic… pic.twitter.com/IvOEFl7DFT
— ANI (@ANI) July 30, 2024
He also detailed various schemes and benefits introduced by his government:
– The MUDRA scheme has enabled over 8 crore people to start their own businesses.
– A Rs 2 lakh crore package for youth aims to enhance India’s workforce, product quality, and global competitiveness, including an internship scheme to boost employment.
– Production Linked Incentive (PLI) schemes have been launched in 14 sectors, significantly supporting the manufacturing industry.
– The Budget plans to develop plug-and-play industrial parks in about 100 major cities to make them investment-ready.
#WATCH | Delhi: Addressing the inaugural session of ‘Journey Towards Viksit Bharat: A Post Union Budget 2024-25 Conference’, PM Modi says, “… In a world full of uncertainties, having growth and stability like India is an exception… India is the only country with high growth… pic.twitter.com/ZELyW8i1oZ
— ANI (@ANI) July 30, 2024
– Support for Micro, Small, and Medium Enterprises (MSMEs) continues with new credit guarantee schemes to ensure access to capital and credit.
– The Budget 2024 has increased funding for nuclear power generation and allocated Rs 1000 crore to the space economy through venture capital.
– The semiconductor industry has been prioritized with a roadmap for green jobs and the PM Surya Ghar Yojana highlighted as a groundbreaking initiative.
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