Post Budget Meet Mumbai: Union Finance Minister Nirmala Sitharaman said on Monday that the large capital investment envisaged in the Union Budget 2022-23 will have a multiplier effect on the economy and will aid in long-term recovery. "Growth revival is a focus in the budget, as are signals for sustainability and a predictable tax regime," Sitharaman said at a post-budget engagement with industry.
She says the government's choice to enhance infrastructure expenditure will assist generate long-term assets and have a long-term influence on the economy. "What we want is a sustainable recovery," said the Finance Minister, who said that the Union Budget 2022-23 aims to establish the groundwork for India's progress over the next 25 years.
Finance Minister recommended a 35.4 percent rise in capital expenditure from Rs 5.54 lakh crore in the current year to Rs 7.50 lakh crore in 2022-23 in the Union Budget presented to Parliament on February 1, 2022. She said, India was able to manage the COVID pandemic more efficiently than most other countries due to its substantial use of technology.
Nirmala Sitharaman on 2-day visit to Mumbai today for Post-Budget meet
FM urges G20 member nations to ensure expeditious distribution of COVID-19 vaccines