Budget 2024: 'Governance, development, performance,' FM redefines GDP

Budget 2024: Emphasising the government's narrative of inclusive growth, Sitharaman said the next five years will have golden moments in the Indian economy

Budget 2024: During the interim budget presentation on Thursday, Finance Minister Nirmala Sitharaman redefined the meaning of GDP, to highlight the achievements of the Narendra Modi government in the past 10 years.

"Governance, development, and performance," Sitharaman echoed in the Parliament within the first 20 minutes of the budget presentation, as she cited the "monumental" achievements that have been made in various sectors of the economy in the last 10 years.

GDP, which stands for gross domestic product, is an important indicator of a country's economic status. It is the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period.

Sitharaman hands Modi government's report card

Emphasising the government's narrative of inclusive growth, she said the next five years will have golden moments in the Indian economy.

She credited India's economic acceleration to the structural reforms and pro-people programmes initiated by the government. "Based on stupendous work, we expect our government will be blessed again by the people with a resounding mandate," Sitharaman, as she exuded confidence in the upcoming Lok Sabha elections.

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Reiterating PM Modi's resolve to work for "four castes" in India - the poor, women, youth, and farmers, Sitharaman remained heavy on political messaging. She took a veiled jibe at the previous Congress-led Progressive United Alliance government, saying the Modi government faced "enormous challenges" when they took charge in 2014.

Sitharaman on PM Kisan

She said that under the current government, a total of 118 million farmers have been provided financial assistance under PM KISAN Yojana.

"250 million people got freedom from multidimensional poverty…worries about food eliminated through free ration for 800 million people…Minimum support prices for 'Annadata' (farmers) increased periodically…," Sitharaman presented the Modi government's report card.

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Modi government focussed on 'Nari Shakti'

Focussing on the works done for women empowerment, Sitharaman highlighted schemes such as 300 million Mudra yojana loans given to women in the last 10 years…the passage of the historic 'Women's Reservation Bill, 2023', law on triple talaq for Muslim women, and emphasised on the success of PM Awas Yojna.