Besides generating high growth rate, we contained double-digit inflation and restored fiscal balance.We are moving towards realising a ‘New India’ by 2022, when we celebrate 75 years of India’s independence: an India which is clean and healthy, where everybody would have a house with universal access to toilets, water and electricity; where farmers’ income would have doubled; youth and women would get ample opportunities to fulfil their dreams; an India free from terrorism, communalism, casteism, corruption and nepotism.?State of the EconomyMadam Speaker, the last five years have seen India being universally recognised as a bright spot of the global economy. This is primarily because food inflation has increased.” In contrast, our Govt.
Under the visionary leadership of Hon’ble Prime Minister Shri Narendra Modi, we have given the most decisive, stable and clean Government and have undertaken transformational structural reforms.I can proudly say that India is solidly back on track and marching towards growth and prosperity. We contained the fiscal deficit notwithstanding the Finance Commission’s recommendations increasing the share of the States from 32 per cent to 42 per cent in central taxes, which we accepted in the true spirit of cooperative federalism, thereby transferring significantly higher amounts to the States. The current account deficit (CAD), against a high of 5. We are the fastest growing major economy in the world with an annual average GDP growth during last five years higher than the growth achieved by any Government since economic reforms began in 1991.
The average rate of inflation during 2009-2014 was a backbreaking 10. The country witnessed its best phase of macroeconomic stability during this period.19 per cent only. From being the 11th largest economy in the world in 2013-14, we are today the 6th largest in the world.6 per cent six years ago, is likely to be only 2.New Delhi: Finance Minister Piyush Goyal presented the interim Budget for 2019-20 in the Lok Sabha on Friday. We have prepared the foundation for sustainable growth, progress and wholesale golf umbrella suppliers better quality of life for all our people. If we had not controlled inflation, our families would have been spending around 35-40 per cent more today on basic necessities such as food, travel, consumer durables, housing etc. In fact inflation in December 2018 was down to 2.1 per cent. broke the back of back-breaking inflation.4 per cent in 2018-19 RE.5 per cent of GDP this year. We brought down average inflation to 4.
The then Prime Minister admitted as much when he said, “We have also not been as successful in controlling persistent inflation as we would have wished.Here’s the full text of interim Budget for 2019-20:?Part AI am deeply conscious of the absence of Shri Arun Jaitley today..From the high of almost 6 per cent seven years ago, the fiscal deficit has been brought down to 3.6 per cent which is lower than the inflation during the tenure of any other Government. The budget, which was focused on giving big push to investment in agriculture, small and medium industries, and health sectors, is NDA government’s last budget before the general elections. We have reversed the policy paralysis engulfing the nation and have restored the image of the country.Madam Speaker, the people of India gave a strong mandate to our Government.I am sure the House joins me in wishing Shri Jaitley speedy recovery, good health and a long life in the service of the nation.Inflation is a hidden and unfair tax on the poor and the middle class. The major achievement of this Government was that we strived our utmost to change the mind-set and ignited the self-confidence of the nation
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