Finance Minister Nirmala Sitharaman underscores the significance of capital expenditure in the FY25 interim budget, citing its economic multiplier effect. She highlights a 17% increase in capex outlay to ₹11.11 lakh crore, exceeding nominal GDP growth. Sitharaman asserts that robust capital spending drives infrastructure development, boosts employment, and enhances living standards. The Rajya Sabha passes key financial bills, affirming the government s fiscal course correction post-pandemic, without compromising welfare spending.
Nageswaran also rejected the K-shaped recovery theory that is being used to describe India s post-pandemic rebound. According to him, it is akin to the phrase Hindu rate of growth that was
The Indian government has been in a running battle with S&P Global Ratings, Moody s Investors Services, and Fitch Ratings as it thinks the sovereign rating assigned to the country is not a fair reflection of its economic strength.
In a post-Budget interview with Rahul Joshi, Editor-in-Chief, Network18, the finance minister also said that jobs getting created outside the formal economy were