NEW DELHI: Finance Minister Nirmala Sitharaman on Saturday said that the government's debt has reduced to 48.9 per cent from 52.2 per cent, while presenting the Union Budget in the Lok Sabha.

The government debt came down to 48.9 per cent from 52.2 per cent," she said.

She said: "Our people should be gainfully employed, our businesses should be healthy, for all minorities, women and people from SCs and STs. This Budget aims to fulfil their aspirations."

"With renewed vigour, under PM's leadership, we commit ourselves to present the people of India with all humility and dedication. People have reposed faith in our economic policy," she added.

Before coming to Parliament for presenting her second budget, Finance Minister Nirmala Sitharaman and her team met President Ram Nath Kovind..

She was accompanied by Minister of State for Finance Anurag Thakur and top officials of her ministry including Finance Secretary Rajiv Kumar.

Finance Minister Nirmala Sitharaman, presenting her second Budget, today took the opportunity to address her predecessor, Arun Jaitley, whom she described as the 'architect of GST'. In her Budget speech, she mentioned that GST has helped in formalisation of the economy and today the household is saving 4% of spend after the implementation of GST.

This is the second budget after Narendra Modi led National Democratic Alliance returned to power for a second term. This year's Union Budget centres around three ideas — Aspirational India, Economic development, A Caring Society.

Sitharaman said that tje government is committed to doubling farm income by 2022.

"Fundamentals of Indian economy are strong and inflation has been well contained, while banks cleaned up accumulated loans. The budget is aimed at boosting income and purchasing power of people.

The finance minister further said during 2014-19, the government brought a paradigm shift in governance. She termed GST as a historic structural reform, saying it integrated the country economically. "A simplified return format for GST is being introduced from April 2020, Finance Minister Nirmala Sitharaman said on Saturday."

Sitharaman also listed out various welfare schemes like affordable housing, direct benefit transfer (DBT) and Ayushman Bharat.