Budget has laid foundation for economic revival: Finance Minister Nirmala Sitharaman

New Delhi: The capital fund for rail and road construction has been raised by 34.4% in the budget 2021-22. This enormous capital fund investment for development in the recent budget has laid the foundation for national development, asserted Union Finance Minister, Nirmala Sitharaman. Sitharaman expressed this faith while responding to a press conference on this budget.

The Union Finance Minister answered the queries of the attendees in this conference on the recent budget. Despite the Coronavirus pandemic, the government implemented the programme for economic growth in full swing. Its effects can be witnessed in the recent budget. The financial provision for creating and developing healthcare facilities and developing basic facilities in the agriculture sector will positively impact the national economy, asserted Sitharaman.

The finance minister drew attention to the fact that the capital raised for railway and road construction has been increased by over 34.5%. The government has made provision for the foundation of long-term economic development. This will cause the national economy to progress rapidly, and India will be recognised among the major world economies over the next few decades, said Sitharaman. The nation has achieved success in bringing the Covid-19 pandemic under control. The death toll due to this pandemic in India is extremely low as compared to other countries. Hence, this has enabled the government to restore the economy, and therefore, it is steadily getting back on track, the Minister claimed and expressed satisfaction. Meanwhile, the industrial sector has asserted that the Indian economy is all set for ‘V-Shape Recovery’. Moreover, the International Monetary Fund has estimated India’s economic growth by 11.5% in future.

Over the last two months, the national GST revenue has achieved a record level, and thus, this has ensured the restoration of Indian economy. This new development in the Indian economy has created an impact across the world. Moreover, the foreign direct investments in India had increased even during the pandemic. Furthermore, as per the claims, these foreign direct investments will be on the rise shortly.