"Very responsible budget, supports economic growth story for India": USISPF President Aghi on interim budget 2024-25
Feb 01, 2024
Bengaluru (Karnataka) [India], February 1 : As the interim budget for the financial year 2024-25 was rolled out on Thursday, the President and CEO of the US-India Strategic Partnership Forum (USISPF) Mukesh Aghi said that it is a very responsible budget and it focuses on continued economic growth story for India.
He underlined that the budget focuses on infrastructure, investment, technology, logistics, and innovation, and added that it is a very balanced budget.
In an interview with ANI, Aghi said, "It is a very responsible budget and it focuses on continued economic growth story for India and it focuses on infrastructure, investment, technology, logistics, and innovation. It is a very balanced budget..."
"We have a 4 trillion dollar economy which will become 5 trillion dollars in the next 2 years and then eventually 7 and 10 trillion dollars. What the budget shows is that the trajectory and momentum of the growth story continues..." he added.
Earlier today, Union Finance Minister Nirmala Sitharaman delivered her Interim Budget speech for FY 2024-25.
Underlining the government's commitment to stability in taxation and a strategic approach to encourage economic growth, the Finance Minister proposed to make no changes in the taxation structure, which can be seen as a relief to taxpayers.
The Interim Budget 2024 is expected to undergo thorough scrutiny and debate in the coming days in Parliament as stakeholders assess its potential impact on the nation's economic trajectory.
The minister said that the interim budget contains a number of announcements and strategies indicating directions and development approaches for making India Viksit Bharat by 2047.
Sitharaman announced amidst the thumping of desks that the Indian economy has witnessed a profound positive transformation in the last ten years and the people of India are looking ahead to the future with hope and optimism.
"Conditions were created for more opportunities for employment and entrepreneurship. The economy got a new vigour. The fruits of development started reaching the people at scale. The country got a new sense of purpose and hope."
The minister said that the capital expenditure outlay for the next year is being increased by 11.1 per cent to Rs 11,11,111 crore, which would be 3.4 per cent of the GDP.
