India set to become a US$ 5 trillion economy: Finance Minister

In her interactions with media agencies, she said that the budget was “beautifully balanced”

February 2, 2023

The government has facilitated a boost for MSMEs and the private sector through numerous capital expenditure allocations

The budget comprised robust management of macroeconomics

The government is making efforts to bring more citizens into the tax-paying bracket

About INR 20 trillion is being made available for agriculture credit

India’s Finance Minister Nirmala Sitharaman said that India is all set to become a US$ 5 trillion economy, in a post-budget interaction with media agencies. 

The Minister said that the budget comprised robust management of macroeconomics, and it has taken care of fiscal consolidation. Additionally, the government is making efforts to bring more citizens into the tax-paying bracket. 

Regarding capital expenditure, Sitharaman said that the government has given an impetus to the  MSME and the private sector through numerous capital expenditure allocations.

The Minister also said that citizens will be skilled through Industrial Revolution 4.0 to become digitally integrated, and women will be empowered with multiple schemes. Additionally, the taxation regime has been revised with important new changes, and the government has brought multiple incentives for green growth. 

Regarding Agriculture, Sitharaman said that about INR 20 trillion is being made available for agriculture credit. The government is also devising inflation-related steps, for being future-ready.

Source: Economic Times

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