Finance Minister Nirmala Sitharaman admitted that the impact of global concerns has been seen on the recently presented budget. And steps have been taken in the budget to deal with all the challenges facing the country. The Finance Minister said this in the Lok Sabha today. The budget presented on February 1 has been considered positive by common people as well as experts. The decision taken on tax is expected to pick up the pace of demand, which is expected to benefit growth. In the budget, tax relief has been given on salaries up to Rs 12 lakh. In the Lok Sabha, the Finance Minister talked about inflation, capex and the movement of the rupee.

What did the Finance Minister say?

Finance Minister Nirmala Sitharaman said in the Lok Sabha during the debate on the budget, the budget was presented amid global uncertainties and global concerns had an impact on the budget. She said that inflation and the Ukraine-Russia conflict remain a matter of concern, while trade restrictions around the world and rising global debt are also worrisome. Expressing confidence in the economy, the Finance Minister said that the Indian economy is expected to be 6.4 percent in real terms and 9.7 percent in nominal terms, while the food inflation rate is also softening. Talking about the budget proposals, the Finance Minister said that the Union Budget emphasizes on dealing with the current challenges. The main objective of the budget is to increase growth, promote employment, along with this, special emphasis has been laid on domestic consumption, manufacturing and export. At the same time, transparency has been emphasized in the budget. She informed that the participation of the labor force has increased to 60% in FY24 and the unemployment rate in FY24 has come down to 3.2 percent. He said that the government is using all the borrowing resources for capex, there is a plan to use 99 percent of borrowing for capex. Speaking on inflation, the Finance Minister said that the biggest priority of our government is to control inflation and retail inflation is within the range of 2-6 percent. According to the Finance Minister, RBI estimates retail inflation to be less than 4.2% for FY26. On the weakness in the rupee, he said that there are many reasons for the weakness in the Indian rupee, while other currencies have seen a bigger decline.