Fastest-Growing Economy: India Set for Tremendous Growth in Coming Years
India has taken its place as the world's fastest-growing economy, and the government aims to continue this trajectory with its focus on developing diverse sectors. Presenting her eighth consecutive budget, Union Finance Minister Nirmala Sitharaman stated that the NDA government will prioritize agricultural growth, empower farmers, support MSMEs, promote innovation, and boost exports.
"Sectors such as MSMEs, agriculture, and exports are some of our growth engines, and we intend to strengthen these areas," FM Sitharaman said during her comments on the budget. "This Budget aims to accelerate growth, secure inclusive development, invigorate private sector investments, uplift household sentiments, and bolster the power of India's rising middle class."
The Budget Session of Parliament has commenced in two phases: from January 31 to February 13, followed by another phase starting March 10 and concluding on April 4. This marks FM Sitharaman's record-breaking number six consecutive budget presentations, surpassing the previous record held by former Prime Minister Morarji Desai.
Key initiatives outlined in the Economic Survey 2024-25 include enhancing financial inclusion for rural households and small businesses through microfinance institutions and intermediaries, as well as infrastructure development projects.
The report emphasizes that private consumption is a vital contributor to India's economy, allowing it to remain stable amidst global uncertainties. FM Sitharaman assured that with this renewed focus on growth, the country is poised to become "Viksit Bharat", or the developed India, in the coming years.
India Now Takes the Top Spot as Fastest-Growing Economy, with Government Committing to Develop Diverse Sectors
In a press release released yesterday, FM Sitharaman stated that her government will ensure tremendous growth in various sectors, spurring agricultural development, empowering farmers, and increasing MSME investments. With this renewed focus on economic development, India showcases its aspirations to surpass other large economies in the coming years.
India Emerges as Global Economic Powerhouse
The NDA government's budget outlines a plethora of reforms aimed at strengthening key areas, including agriculture, industry, and export sectors. The vision aims to create an inclusive economy where all citizens have the opportunity to succeed financially.