New Delhi
Finance Minister Nirmala Sitharaman responded to the general discussion in the Lok Sabha on Union Budget 2025-26 on Tuesday. Referring to the ongoing war from West Asia to Ukraine, he said that this budget, prepared in the atmosphere of such uncertainty, has tried to help the challenges of making ‘Transforming India’ a ‘developed India’. The objective of the budget was to focus on inclusive development as well as the Annadata, poor, women and youth.
Nirmala Sitharaman said, “This budget has come at a time when there are many uncertainty and change in the global economic environment has made it challenging. So if there are challenges that have made the budget more uncertain, then at least I have to keep in front of the House that there are issues that are the matter of global concern and which also have an impact on our budget construction.”
Sitharaman said, “Budget balances national development requirements with fiscal priorities. The government is using 99 percent borrowing for capital expenditure, which is 4.3 percent of GDP.” The Finance Minister gave four main goals of the budget including accelerating GDP development, ensuring inclusive development, integrating private sector investment and promoting domestic investment.
Sitharaman further said that the focus of the budget is on the poor, youth, Annadata and women. Its objective is to bring out new schemes and reforms to promote agriculture, MSME and exports, which will serve as an engine of development and rural prosperity and flexibility as well as development.
He said that global conflict continues in West Asia, Russia-Ukraine War continues, stability in global GDP and stable inflation in emerging markets are deteriorating the environment in all developing economies. We ideally have a situation that encourages free trade, we are not seeing any restrictions, we are very strongly committed to globalization.
