Ahead of the Parliament session, Prime Minister Narendra Modi expressed pride in his government’s unique achievement of presenting the Budget for the third consecutive time after 60 years in power. Speaking to the media, Modi emphasized the significance of this Budget for the “Amrit Kaal,” marking a crucial moment that will shape the next five years of governance and contribute to the vision of a “Viksit Bharat” (Developed India).
In his address, Modi underscored that the forthcoming Budget is not just a financial statement but a foundation for India’s growth trajectory. “Today’s Budget will chart the course for the next five years and lay the groundwork for our dream of a developed nation,” Modi remarked.
The Economic Survey preceding the Budget outlined six critical areas that need attention to drive economic growth:
Boosting Private Investment: The survey highlights the need to increase private sector investment as a key driver of economic growth. Encouraging private investment is seen as vital for stimulating economic activity and development.
Expanding MSMEs: The growth and expansion of Micro, Small, and Medium Enterprises (MSMEs) are prioritized. Strengthening these enterprises is viewed as a strategic priority to enhance economic performance.
Agriculture as a Growth Engine: The government aims to leverage agriculture as a significant growth driver. The Economic Survey suggests removing policy barriers to boost the sector’s contribution to economic development.
Green Transition Financing: Securing financial resources for a green transition is deemed essential. This focus aligns with sustainable development goals and environmental protection efforts.
Bridging the Education-Employment Gap: Addressing the disparity between education and employment is identified as crucial. Ensuring that educational outcomes align with job market needs is a key focus area.
Building State Capacity and Capability: Enhancing the effectiveness of state institutions to implement policies and drive growth is emphasized. Strengthening institutional capacities is vital for effective governance and development.
The Economic Survey’s emphasis on these areas reflects the government’s strategy to navigate the economic landscape of the Amrit Kaal and ensure robust growth and development in the coming years.
