NewsBusinessFM Sitharaman Reports India's Rise to 5th Largest Economy in 9 Years

FM Sitharaman Reports India’s Rise to 5th Largest Economy in 9 Years

Finance Minister Nirmala Sitharaman Delivers the 2023-24 Union Budget Speech: Highlights the Growth of the Indian Economy

On Wednesday, February 1st 2023, Finance Minister Nirmala Sitharaman delivered the 2023-24 budget speech in the Parliament of India. The budget speech serves as an annual update on the country’s economic performance and outlines the government’s spending plans and policies for the upcoming fiscal year.

In her speech, the Finance Minister highlighted the impressive growth of the Indian economy over the last nine years. According to her, the size of the Indian economy has increased from the tenth position to the fifth largest in the world. The Minister attributed this growth to the government’s efforts to create a conducive environment for economic development and entrepreneurship.

Read Also: What is ‘Saptrishi’ – India Union Budget 2023

The Minister also emphasized the importance of building on the foundation of the previous budget and the blue print for [email protected] She stated that the world has recognized India as a “bright star” and that the country’s growth for the current year is estimated at 7.0 per cent, which is the highest among all major economies. The Minister added that the per capita income has increased to ₹1.97 lakh, indicating an improvement in the standard of living for all citizens.

In her speech, the Finance Minister announced the government’s plans to spend ₹2 lakh crore on free food grains for all priority households under the PM Garib Kalyan Yojana. This initiative is aimed at improving the standard of living for the poor and marginalized sections of society. The Minister stated that the government is committed to inclusive and sustainable economic growth and will continue to take measures to improve the lives of all citizens.

Read Also: Agri-Startups to be Encouraged with Agriculture Accelerator Fund Establishment – Budget 2023

Anjali Arora
Anjali Arora
A journalist with over 3 years of experience in the news industry. I have a deep understanding of the financial markets and a passion for staying up-to-date on the latest developments in the tech industry. In my articles, I expertly cover a wide range of topics, from stock market analysis to groundbreaking technology to general news.


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