Finance Minister Nirmala Sitharaman said India is on track to become the world’s third‑largest economy, thanks to rapid growth and strong economic fundamentals. She made the remarks while giving a keynote lecture at the Delhi School of Economics on Tuesday.
Sitharaman highlighted India’s swift climb in the global rankings—from the 10th‑largest economy in 2014 to the 5th today, and soon the 4th—before it is expected to reach the 3rd spot. She noted that this progress is a clear sign of India’s economic strength and its growing importance on the world stage.
The minister pointed out that 25 million people have moved out of multidimensional poverty, underscoring the need for research and policies tailored to emerging markets.
Other policy wins were mentioned as well. Customs regulations are undergoing a major overhaul to streamline trade, and public‑sector banks have shown a significant turnaround, improving their balance sheets compared to the problems that existed under previous governments.
Sitharaman expressed confidence that the government will meet the fiscal‑deficit target of 4.4 % for the 2025‑26 financial year. For the first half of this year, the deficit stood at ₹5.73 lakh crore—36.5 % of the annual budget estimate—showing the deficit is under control and creating a stable environment for continued growth.
India’s journey toward the “Viksit Bharat” vision for 2047 continues, with tangible gains in growth, poverty reduction, and financial stability highlighted in today’s speech.
Source: ianslive
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