Finance Minister Nirmala Sitharaman on Wednesday took charge and resumed her work in the North Block. This is her second term in the Ministry as a Cabinet Minister and overall, her third term as she was a Minister of State during the first term of the Modi Government (2014-2019).
Her most important task will be the presentation of the full Union Budget for Fiscal Year 2024-25. Though the date has not been announced officially, it is likely to take place during the second half of the next month. Sitharaman, 65, is the first full-time woman Finance Minister (the first being Indira Gandhi who held additional charge of Finance as Prime Minister for a short time) and has so far presented six budgets (including one interim budget).
In the interim budget for FY25, the FM followed convention and stuck to vote-on-account. All eyes are now on the full budget, where she is expected to present the vision for the next fibe years along with policy announcements. She is expected to address the critical issue of unemployment through measures to boost manufacturing.
A Finance Ministry statement quoting Sitharaman said: “Government fully committed to ensure ‘Ease of Living’ for its citizens and will continue to take further steps in this direction.” She also stated that the reforms undertaken since 2014 will continue, which will further provide “macroeconomic stability” and “growth for India”. She also highlighted India’s commendable growth story in recent years amidst global challenges and noted that there is an optimistic economic outlook for coming years.
She acknowledged the strong leadership and development-oriented governance in the last ten years, which has driven “transformative changes” across various sectors and created a robust and resilient economy. After assuming charge, the Finance Minister was briefed on the ongoing policy issues by the secretaries of the different departments of the Finance and Corporate Affairs Ministry.
The FM urged the Departments to advance the NDA government’s development agenda with renewed vigour and ensure responsive policymaking to achieve the Prime Minister’s vision of a Viksit Bharat. She also said that the government believes in “Sabka Saath, Sabka Vikas, Sabka Vishwas, Sabka Prayas” and called for the continued support and cooperation of all stakeholders, including industry leaders, regulators, and the citizens, to ensure a strong and vibrant economy.