Prime Minister Narendra Modi delivered a compelling address at the ‘Journey Towards Viksit Bharat: A Post Union Budget 2024-25 Conference’ organized by the Confederation of Indian Industry (CII) today, detailing the impressive growth in budget allocations and capital expenditures achieved under his administration. Modi’s speech underscored the government’s focus on transformative economic policies and rapid infrastructure development.
Modi began his address by contrasting the current budget with that of the previous administration. “In 2013-14, the budget was ₹16 lakh crore. Today, it has grown to ₹48 lakh crore under our government,” Modi stated. He attributed this increase to the administration’s commitment to expanding fiscal resources for national development and enhancing public investments.
The Prime Minister also highlighted significant increases in capital expenditure. “Capital expenditure has surged from ₹90 thousand crore in 2004 to over ₹11 lakh crore today,” Modi said. He praised the administration’s efforts to enhance funding across critical sectors: railways and highways have seen an eightfold increase, agricultural spending has more than quadrupled, and defense budgets have more than doubled.
Modi emphasized the government’s focus on reducing tax burdens as part of its economic strategy. “We have significantly lowered taxes for Micro, Small, and Medium Enterprises (MSMEs) and reduced corporate tax rates. These changes are designed to foster a more supportive environment for businesses and stimulate economic growth,” he explained.
The Prime Minister took the opportunity to critique the previous government’s performance, contrasting it with the current administration’s achievements. “While the pre-2014 era was marked by unfulfilled promises and slow progress, this government is delivering on its commitments with unprecedented speed and scale,” Modi asserted. He highlighted the administration’s achievements in infrastructure development and governance, stressing the government’s success in translating policy into tangible results.
Modi’s address at the CII conference was aimed at reinforcing the government’s narrative of fiscal discipline and rapid development. The Prime Minister’s remarks were well-received by industry leaders, who viewed them as a reaffirmation of the government’s effective management of public resources and commitment to national growth.
The conference served as a forum for discussing the implications of the Union Budget 2024-25 and the broader economic strategies of the government. Modi’s speech showcased the substantial progress made in budgetary allocations and infrastructure investments, setting a positive tone for future economic initiatives and reinforcing the administration’s focus on continued development and reform.
