New Delhi, July 5: “It is well within India’s capacity to reach the 5 trillion dollar economy. It stands sixth largest economy in the world and will reach 3 trillion dollar economy in the current year”, said Finance Minister Nirmala Sitharaman while presenting the Union Budget in the parliament today.
Focussing over the New India module, Sitharaman said that between 2014 and 2019, the government provided rejuvenated Centre-state dynamic, cooperative federalism, GST Council and a strident commitment to fiscal discipline; setting the ball rolling for a New India.
“Connectivity is the lifeline of the economy”, she said adding that the common man was served even as major transformational reforms were brought about. Calling for reform, perform and transform, the Finance Minister said that the days of the licence raj were totally gone and that India was heading towards employment and job creation.
“We don't look down upon legitimate profit earning. Together with mutual trust we can gain, catalyse past and attain sustained growth”, she added.
Stressing at various rejuvenating projects, she said that schemes such as BharatMala, Sagarmala and UDAN were bridging rural urban divide and improving our transport infrastructure. “Chanakya Neeti sutra says Kaarya purusha kare na lakshyam sampa dayate – meaning, with determined human efforts the task will surely be completed”, she said.
Proposing several reform measures to promote rental housing, she declared that the government would provide loans for rehabilitation amounting to Rs 1 crore. “Current rental laws are archaic as they do not address lessor-lessee relationships fairly”, she said.
“The unambiguous mandate by the people in the recent election has set the ball rolling for the New India. Voter turnout was highest; every section came to stamp their approval for a performing Government”, she signed off.