9:08 PM
Budget lays foundation for India's journey towards 3rd largest economy: Rijiju
Union minister Kiren Rijiju on Saturday said the "historic" Budget 2024-25 will lay the foundation for making India the third largest economy in the next three to four years.
Addressing a press conference in Panaji, the Parliamentary Affairs Minister said the capital expenditure allotted under the Union Budget will transform India especially the western belt, including Maharashtra, Goa and Karnataka, which will become one of the finest regions in the world.
The Budget will transform not only railways, airways and shipping ports but also the infrastructure sector critical to propel the economic growth, he added.
"This Budget is hugely historic. It lays the foundation for Vikasit Bharat to make India a fully developed country by 2047. It lays the foundation to make the country the third largest economy in the world in the next 3-4 years," Rijiju said.
At 8.2 per cent, India's economy grew fastest when the world was slowing down, thanks to very intelligent and prudent management of the economy and fiscal scenario, he said.
"We are managing the fiscal deficit and enhancing the capital expenditure," Rijiju added.