Prime Minister Narendra Modi highlighted the remarkable growth in budgetary allocations and capital investments under his administration during his keynote address at the ‘Journey Towards Viksit Bharat: A Post Union Budget 2024-25 Conference,’ organized by the Confederation of Indian Industry (CII) in Delhi today. Modi’s speech underscored the government’s strategic focus on economic development and infrastructure enhancement.
Modi opened his address by detailing the substantial increase in the national budget over recent years. “In 2013-14, the budget stood at ₹16 lakh crore. Today, it has surged to ₹48 lakh crore under our administration,” Modi stated, emphasizing the government’s dedication to significantly scaling up financial resources to support development initiatives.
The Prime Minister also highlighted the impressive rise in capital expenditure. “Capital expenditure has grown from ₹90 thousand crore in 2004 to over ₹11 lakh crore today,” Modi revealed. He attributed this increase to the administration’s commitment to investing in infrastructure projects that drive economic growth and create opportunities.
Further, Modi noted the substantial increases in funding across several key sectors. “Budgets for railways and highways have expanded eightfold, agricultural spending has grown more than four times, and defense budgets have more than doubled,” he stated. These increases, he argued, reflect the government’s focus on enhancing critical infrastructure and supporting various sectors vital to national progress.
Modi also praised the government’s tax reforms, including reductions for Micro, Small, and Medium Enterprises (MSMEs) and a decrease in corporate tax rates. “Our efforts to lower taxes are aimed at fostering a more business-friendly environment and encouraging economic activity,” Modi said, highlighting the administration’s focus on creating favorable conditions for business growth.
Criticizing the previous government’s record, Modi contrasted it with the achievements of his administration. “The pre-2014 period was marked by unfulfilled promises and slow progress. In contrast, our government is delivering on its commitments with unprecedented speed and scale,” Modi asserted. He emphasized the administration’s success in achieving substantial infrastructure development and effective governance.
The Prime Minister’s address at the CII conference aimed to reinforce the government’s achievements in budgetary management and infrastructure development. Modi’s remarks were intended to align industry leaders with the government’s vision for economic growth and to highlight the progress made under the current administration.
The conference served as a key platform for discussing the Union Budget 2024-25 and its impact on future economic policies. Modi’s speech reflected the government’s ongoing commitment to driving economic progress and ensuring that infrastructure investments translate into tangible benefits for the nation.
