Budget 2024: Sitharaman spotlights 'GDP - Good Governance, Development, Performance' as economy strengthens

Budget 2024: While presenting the 2024 Union Budget, Nirmala Sitharaman underscored the government's focus on boosting India's GDP, stating that governance, development and economic indicators were showing favorable progress.

Shantanu Poswal
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Budget 2024: India's Finance Minister Nirmala Sitharaman emphasised the country's "exemplary governance, development and performance" as she unveiled the interim budget on Thursday ahead of looming national elections.

FOR LIVE updates on Budget 2024 watch: Budget 2024 LIVE Updates - The economy is doing well.

Presenting the budget in parliament, Sitharaman said the government was equally focused on a "more comprehensive GDP" alongside delivering high economic growth.

India has maintained a "moderate" inflation rate, she noted in her speech.

The stopgap budget was approved earlier by Prime Minister Narendra Modi's cabinet as the country gears up for polls expected in April-May.

This was Sitharaman's sixth budget presentation and her last of this parliamentary term. With the Lok Sabha elections imminent, the interim budget avoids major policy announcements or tax changes.

Sitharaman now equals the record of former Prime Minister Morarji Desai, who presented six budgets between 1959-1964.

The finance minister is expected to highlight the government's economic record and social spending while appealing to rural voters and the middle class as the ruling Bharatiya Janata Party seeks re-election.

The budget session kicked off on Wednesday with an address by President Droupadi Murmu to both houses of parliament. She lauded the Modi government's "unprecedented progress" in boosting India's development.

Experts say Sitharaman faces a tough balancing act of stimulating growth amid global headwinds while keeping spending in check and sticking to fiscal deficit targets.