Finance Minister Nirmala Sitharaman expressed confidence in the Bharatiya Janata Party’s (BJP) electoral prospects. She was addressing the annual ‘Apex Business Chamber’ CII event on Friday.
She expressed assurance that Prime Minister Narendra Modi would secure a strong majority in the upcoming elections.
Sitharaman indicated that discussions for the full budget for the fiscal year 2024-25 would commence promptly upon the formation of the new government.
The Finance Minister underscored India’s remarkable economic performance, affirming its status as the fastest-growing economy globally.
She predicted sustained growth, citing IMF forecasts that India’s contribution to global GDP will reach 18% within five years.
Attributing the nation’s robust economic growth to stable government policies and corruption-free decision-making, Sitharaman emphasized the significance of consistency in governance.
She praised government initiatives like the Production Linked Incentive (PLI) scheme for transforming the smartphone electronics sector and significantly reducing import dependence.
Sitharaman highlighted the progress made in import substitution.
She cited a notable increase in self-reliance achievements, aligned with the government’s ‘Aatmanirbhar Bharat’ policy.
She projected a doubling of the Indian consumer market by 2031, underlining the immense growth potential.
The Finance Minister expressed confidence in the resilience of both the corporate and financial sectors. She affirmed their ability to drive the growth agenda forward.
She stated that the government envisions a significant role for the private sector “in our goal of becoming a developed country by 2047,” with the government acting as a facilitator and enabler.
The remarks by Finance Minister Nirmala Sitharaman underscored the BJP’s optimism ahead of the elections. She portrayed a vision of continued economic expansion, backed by stable governance and robust policy measures.
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