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Union Finance Minister Nirmala Sitharaman, while presenting the Union Budget in Parliament on Sunday, said the government has proposed targeted interventions in six areas to accelerate and sustain economic growth.
In her budget speech, the Finance Minister said the government remains committed to continuing reforms and ensuring steady momentum in economic policymaking. "The reform express is running on its way and will maintain its momentum to help us fulfill our Kartavya," Sitharaman said while outlining the government's approach. She said that under the first Kartavya, to accelerate and sustain economic growth, the government has identified six key areas where focused interventions will be undertaken. These interventions, she said, are aimed at strengthening the economic foundation and supporting long-term growth. The first area highlighted by the Finance Minister is scaling up manufacturing in seven strategic and frontier sectors. She said this step is aimed at strengthening India's manufacturing capabilities and enhancing its position in critical sectors of the economy. The second proposed intervention focuses on rejuvenating legacy industrial sectors. Sitharaman said reviving and strengthening traditional industries remains important for sustaining growth, preserving jobs, and supporting regions that are dependent on these sectors. The third area of intervention is the creation of champion micro, small and medium enterprises (MSMEs). The Finance Minister said MSMEs continue to play a vital role in economic activity and employment, and supporting their growth is essential for broader economic stability. The fourth intervention announced in the budget speech is delivering a powerful push for infrastructure. Sitharaman said infrastructure development remains a key pillar for economic expansion, supporting both short-term activity and long-term productivity. The fifth area focuses on ensuring long-term security and stability. The Finance Minister said maintaining stability is crucial for sustaining growth and building confidence across the economy. The sixth and final area of intervention proposed is the development of city economic regions. Sitharaman said these regions will play an important role in driving economic activity and supporting growth across urban centres. The Finance Minister said these six interventions together reflect the government's commitment to fulfilling its Kartavya and maintaining the momentum of reforms. (ANI)
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