Finance Minister Nirmala Sitharaman delivered an interim budget, steering away from election-focused announcements. The hour-long speech highlighted the Modi government's achievements over the last ten years without resorting to populist promises.
She began by showcasing the country's growth and development under the government's development-for-all policy. Notable accomplishments include the implementation of schemes providing free food grains to 80 crore people, uplifting the living standards of 25 crore people and injecting 34 lakh crore rupees directly into the hands of the people through relief schemes.
The Finance Minister emphasized the eradication of corruption and poverty alleviation, resulting in 25 crore people being lifted from poverty during the government's tenure. Controlled inflation, expanded infrastructure, and improved living standards for the poor, women, youth and farmers were also highlighted.
While avoiding grand announcements, the interim budget included initiatives such as building two crore houses for the poor under the Pradhan Mantri Awas Yojana and boosting the fisheries sector for better income and living conditions for fishermen.
Welfare schemes like providing more loans to women through the Mudra scheme, integrating Anganwadi workers into the Ayushman Bharat scheme, and continuing interest-free loans for infrastructure development projects were outlined. The budget also touched upon railway upgrades, new metro routes, increased air travel facilities and the development of three freight corridors.
Taxation remains unchanged, with no alterations to direct and indirect taxes. Corporate taxation sees some benefits, and startups receive certain incentives. The Finance Minister assured timely income tax refunds within ten days of filing returns.
In the education sector, significant allocations were made, including plans for 140 new medical colleges and new IITs. Spiritual tourism projects, especially in states like Kerala, were emphasized, and a childhood vaccination program to prevent uterine cancer in women was announced.
Despite expectations of election-driven announcements, the Finance Minister's speech received neither protests nor loud applause. Described by some as a brief report on the administration's achievements, the interim budget seemed to stay true to its purpose of not using outgoing government resources for campaigning.