Budget 2023: Growth is the main focus”, Says FM Nirmala Sitharaman

Budget 2023: Nirmala Sitharaman, the Union Finance Minister, stated on Saturday that the budget she recently delivered for FY24 is primarily focused on growth.

In her first contact with stakeholders outside the national capital since delivering the budget on February 1, Sitharaman stated that the budget measures “provide both fiscal consolidation and growth, notably inclusive growth.”

“Growth is the main focus”. We want to sustain that recovery, sustain that growth,” Sitharaman, accompanied by the top ministry officials at the outreach event, said.

The people of the nation, who accepted the government’s relief and policy measures since the start of the pandemic to make India the second-fastest expanding economy, were credited for ensuring growth.

The finance minister claimed that the increased public capital expenditure was the “direct desire” of Prime Minister Narendra Modi, which is why she has recommended a bigger outlay of 10 lakh crore under the head.

She also commended the budget-making team for enabling the work to receive such a large amount of money despite several obstacles including the requirement for fiscal consolidation.

Mumbai should embrace the ideas, according to Sitharaman.

Budget 2023: Some Statements of FM Sitharaman

FM Sitharaman Live

While addressing the Adani issue, she stated that “It would be the regulators who would do the job. And regulators are independent of the Government.”

Banks and LIC came out with their exposure. RBI released its statement on the same. The market has functioned in prime condition. SEBI has worked on it well.

FM Sitharaman Live

She remarked,” “We are not taking their debt. We are buying shares of Vi. We are taking a stake in them. And if they profit, we will also profit.”

FM Sitharaman Live

She stated, “(It is) a simple tax structure with better tax rates,” while referring to the new tax system.

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FM Sitharam Live

While Answering the question as to why there is no GST on insurance when it is on other goods like real estate and gold, FM said, “Majority of our population is not covered under insurance.”