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.
The Interim Union Budget for the financial year 2024-25 was tabled in the Parliament by Finance Minister Nirmala Sitharaman earlier today. This was the sixth budget presented by the current FM and the last one of Prime Minister Narendra Modi-led government's second term.The full budget will be presented in July this year after the new government is formed post the Lok Sabha Elections.The budget focused on fiscal consolidation, infra, agri, green growth, and railways. However, no changes were made in the tax rates, which was a disappointment to salaried individuals.