Modi govt made Budget a strategic blueprint: FM

New Delhi: Finance Minister Nirmala Sitharaman on Monday said the Modi government has reshaped the Union budget in the last 10 years from a mere record of expenditure to a strategic blueprint for equitable distribution, and stressed that the pace of reforms will continue to make India a developed nation. Sitharaman said the government will continue to maximise the value and impact of hard-earned taxpayer money, ensuring it is put to the best possible use for the benefit of all. The minister said the Modi government has prioritised transparency in its budgeting practices and numbers.

Countries with transparent budgets are often viewed favourably by international bodies such as the IMF and the World Bank. This can lead to improved global trust. “This starkly contrasts the @INCIndia-led UPA government’s repetitive practice of hiding the deficits through off-budget borrowings and issuance of ‘Oil Bonds’, which somewhat covertly shifted the fiscal burden to future generations. Under UPA, standard fiscal practices were routinely changed to make Budget numbers look favourable,” Sitharaman said in a post on X.

She said the last decade has witnessed a substantial improvement in the sanctity and credibility of the Union Budget, leaving past constraints and archaic practices behind.