Budget 2024: Nirmala Sitharaman went on to say that strong investments and strong macroeconomic stability are to blame for the reduction in inflation.
The average real income of Indians has increased by 50%, according to a statement made to the Parliament on Thursday by Union Finance Minister Nirmala Sitharaman. The Union Finance Minister added that people are now earning more money, leading better lives, and having high hopes for the future. She went on to say that solid macroeconomic stability and substantial investment have helped to lower inflation rates. Sitharaman stated that the Modi 2.0 government has provided a transparent, accountable, and people-centric trust-based administration.
Sitharaman stated that the administration is aiming for a “more comprehensive GDP— governance, development, and performance.” Nirmala Sitharaman expressed that the macroeconomic situation is stable, investments are strong, the economy is thriving, and individuals are prospering, harboring greater ambitions for the future. The average real income has seen a 50% increase, inflation remains at a moderate level, and people are gaining the ability to pursue their goals. Additionally, there is efficient and timely implementation of programs and significant projects.
Budget 2024: According to Nirmala Sitharaman, average real income increased by 50% while inflation decreased.
Sitharaman also recalled that when the Narendra Modi administration first assumed office in 2014, India was dealing with severe difficulties. The nation faced great challenges in 2014, the year we took office. Utilizing ‘Sabka Sath Sabka Vikas’ as its motto, the government surmounted those obstacles.”
Sitharaman also discussed how the Indian economy handled the obstacles brought by the coronavirus pandemic. She claimed that India overcame the challenges posed by the COVID-19 epidemic by laying the groundwork for a self-sufficient India, or Aatmanirbhar Bharat. She added that the Modi government provided free rations to 80 crore people during the pandemic and continues to do so. Nirmala Sitharaman also stated in her address that with the implementation of the goods and services tax (GST), all regions of the country are becoming a part of India’s growth story. The Union Finance Minister stated that the growth of the financial sector has made savings, credit, and investments more efficient, while all types of infrastructure are being created in record time.