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Budget outlines vision for confident India, economy will grow to $5 trillion by 2027: Defence minister Rajnath Singh
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NEW DELHI: Union defence minister, Rajnath Singh, expressed optimism on Thursday about the interim Union Budget, describing it as a blueprint for a “confident, strong, and self-reliant Viksit Bharat” and foreseeing the Indian economy surging beyond USD 5 trillion by 2027.
In a statement posted on social media platform X, Singh highlighted the inclusive nature of the budget, asserting that it caters to the needs of every section of society.Finance minister Nirmala Sitharaman presented the interim Budget for the fiscal year 2024-25, outlining the government’s commitment to transforming India into a developed nation by 2047.
Despite being an interim Budget, Sitharaman’s proposals drew praise from Singh, who expressed confidence in the economic trajectory outlined. “The indications we have received from this Budget suggest that the size of our economy, currently in the top five globally, will surpass USD 5 trillion by 2027. By 2030, it is projected to exceed USD 7 trillion,” Singh told reporters outside Parliament.
Addressing the government’s ambitious 2047 target, Singh stated unequivocally, “We will reach that target. We are fully confident.”
Taking to X once again, Singh congratulated Sitharaman for presenting a “positive and encouraging” interim Budget that aligns with Prime Minister Narendra Modi’s vision of transforming India into a developed nation by 2047. Singh emphasized that the budget caters to diverse sectors, with a notable focus on infrastructure, construction, manufacturing, housing, and technology development.
Reflecting on India’s resilience during the Covid-19 pandemic, Singh underscored the nation’s role as a beacon of hope and praised the budget for aligning with PM Modi’s ‘Panchamrit Goals.’ He lauded the increased capital expenditure outlay of 11.1% for the fiscal year 2024-25, amounting to Rs 11.11 lakh crore, asserting that this substantial investment would propel India towards becoming a five-trillion-dollar economy by 2027.
“This Budget paves the way for the next five years of unprecedented growth,” Singh concluded in his post.
In a statement posted on social media platform X, Singh highlighted the inclusive nature of the budget, asserting that it caters to the needs of every section of society.Finance minister Nirmala Sitharaman presented the interim Budget for the fiscal year 2024-25, outlining the government’s commitment to transforming India into a developed nation by 2047.
Despite being an interim Budget, Sitharaman’s proposals drew praise from Singh, who expressed confidence in the economic trajectory outlined. “The indications we have received from this Budget suggest that the size of our economy, currently in the top five globally, will surpass USD 5 trillion by 2027. By 2030, it is projected to exceed USD 7 trillion,” Singh told reporters outside Parliament.
Addressing the government’s ambitious 2047 target, Singh stated unequivocally, “We will reach that target. We are fully confident.”
Taking to X once again, Singh congratulated Sitharaman for presenting a “positive and encouraging” interim Budget that aligns with Prime Minister Narendra Modi’s vision of transforming India into a developed nation by 2047. Singh emphasized that the budget caters to diverse sectors, with a notable focus on infrastructure, construction, manufacturing, housing, and technology development.
Reflecting on India’s resilience during the Covid-19 pandemic, Singh underscored the nation’s role as a beacon of hope and praised the budget for aligning with PM Modi’s ‘Panchamrit Goals.’ He lauded the increased capital expenditure outlay of 11.1% for the fiscal year 2024-25, amounting to Rs 11.11 lakh crore, asserting that this substantial investment would propel India towards becoming a five-trillion-dollar economy by 2027.
“This Budget paves the way for the next five years of unprecedented growth,” Singh concluded in his post.
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