Nirmala Sitharaman Prioritizes Capital Expenditure and Fiscal Prudence
Finance Minister Nirmala Sitharaman announced that India will maintain high capital expenditure and strict fiscal discipline to sustain economic growth.
Union Finance Minister Nirmala Sitharaman announced that the Indian government will continue to prioritize capital expenditure to maintain economic growth momentum while adhering to strict fiscal discipline. Speaking at HSBC India's Third Annual Financial Inclusion Gathering, Sitharaman stated that public spending must remain responsible to ensure growth is sustainable until the private sector expands its own capacities.
Sitharaman emphasized that fiscal prudence remains a top priority under Prime Minister Narendra Modi. Beyond fiscal policy, she outlined a strategy for financial inclusion that aims for universal insurance coverage by 2047 and expanded credit access.
To address the skills gap for graduates, the Finance Minister announced plans to establish AI training centers in every district. She also noted that a high-level committee is currently tasked with recommending banking system improvements to support the government's Viksit Bharat vision.
