Budget’s main focus is growth; Mumbai should be liking proposals: FM

Union Finance Minister Nirmala Sitharaman addresses the Post-Budget Virtual Industry Roundtable of the U.S.-India Strategic Partnership Forum (USISPF), in New Delhi.
| Photo Credit: ANI

Union Finance Minister Nirmala Sitharaman on February 4 said growth is the main focus of the Budget for FY24 presented by her recently. The Budget proposals establish both fiscal consolidation and growth, especially inclusive growth, Ms. Sitharaman said during her maiden interaction with stakeholders outside the National Capital since presenting the Union Budget on February 1.

“Growth is the main focus. We want to sustain that recovery, sustain that growth,” Ms. Sitharaman, accompanied by the top Ministry officials at the outreach event, said. She gave credit for ensuring growth to the people of the country, who absorbed the relief and policy measures introduced by the government since the onset of the pandemic to make India the second-fastest growing economy.

The Finance Minister said it was the “express desire” of Prime Minister Narendra Modi to continue with the elevated public capital expenditure, due to which she has proposed a higher outlay of ₹10 lakh crore under the head.

She also thanked the Budget-making team for making it possible to devote such a high quantum of resources for the task amid the myriad challenges like the need for fiscal consolidation. “Mumbai should be liking it [the proposals],” Ms. Sitharaman said.