Our economy can touch new heights with trust -based management: Finance Minister Nirmala Sitharaman

New -Delhi, June 14 (IANS). Finance Minister Nirmala Sitharaman said on Saturday that under the vision of Prime Minister Narendra Modi, structural reforms for the past 11 years have given a new form to India’s comprehensive economic infrastructure. The finance minister wrote in a media article that the rise of India as the fastest growing major economy is based on many favorable factors. It is also closely related to strengthening the balance sheet of the most important sectors of the economy, such as banks, businesses, families, the government and the external sector. Finance Minister Sitharaman has written in a position on the social media platform X, “The change of the Indian economy over the past 11 years is the result of concrete policy efforts led by PM Modi to change from ‘Twin Deficit problem to five-balance magazines’.” He further stated that “when we came to power in 2014, our first priority was to revive the development. During the years of GST, IBC, Rera and epidemic, structural reforms such as PLI schemes and ECLGs were introduced, so that credited to help MSMEs overcome Corona.” The finance minister said in his article that capital investment in FY 2013-14 rose from 1.7 percent of GDP to 3.2 percent in FY 2024-25. In 11 years, 88 airports were operated, 31,000 km railway tracks were laid, the Metro network expanded more than four times, the hawfulness doubled and the national highway length rose by 60 percent. The Minister of Finance also informed the significant progress in India’s poverty relief in his article. He quoted the latest data from the World Bank, saying that India has advanced over the past decade to lower its excessive poverty and that the excessive poverty in the country was reduced from 27.1 percent in 2011-12 to 5.3 percent in 2022-23. According to the Minister of Finance, of the digital payment revolution launched by UPI to the yearning of entrepreneurship manifested by the currency loan, over the past 11 years has shown that our economy can touch new heights when we combine the trust -based management with the lack of regulator burden and the expansion of public goods. -Ians skt/