Economic Survey 2023-24 Emphasizes Need For Balanced Strategies To Address Economic Complexities
At 11 a.m., Finance Minister Nirmala Sitharaman presented the Union Budget 2024-25. Earlier that day, Sitharaman met with President Droupadi Murmu before heading to Parliament. This marked Sitharaman’s seventh consecutive budget, surpassing the late Morarji Desai’s record of six consecutive budgets. The budget will focus on changes to the income tax structure and improving the ease of doing business in India.
In a dynamic address following the presentation of the Union Budget 2024-25, Finance Minister Nirmala Sitharaman expressed gratitude for the continued trust the people of India have placed in Prime Minister Narendra Modi, who has been re-elected for a historic third term.
Sitharaman highlighted that while the global economy is showing some improvement, it remains fraught with uncertainty. Despite these challenges, India’s economic growth stands out as a notable exception, with inflation remaining low and moving towards the 4% target, alongside a co-inflation rate of 3.1 percent.
In the Lok Sabha, Sitharaman revealed that the Union government has proposed an allocation of ₹26,000 crore for a range of road development projects in Bihar.
“On the Amritsar-Kolkata industrial corridor, we will support the development of an industrial node at Gaya in Bihar. We will also support the development of road connectivity projects- Patna -Purnea expressway, Buxar- Bhagalpur highway, Bodhgaya- Rajgir-Vaishali- Darbhanga and an additional two-lane bridge over river Ganga in Buxar for ₹26,000 crores.”
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