
Summary:
In an interview following the FY26 Union Budget announcement, Union Minister of Finance Ms. Nirmala Sitharaman discussed income tax reforms, global geopolitical challenges, and the 'Viksit Bharat' agenda. She emphasized the Budget's focus on strengthening India's development foundation, particularly through initiatives like the new Income Tax Bill and investments in education, nutrition, and artificial intelligence (AI). It also aims to support agriculture through the PM Dhan Dhaanya Krishi Yojana, with a focus on infrastructure and fiscal discipline.
Despite global challenges, such as US tariffs, Ms. Sitharaman emphasized India's commitment to the 'Make in India' initiative and agricultural modernization. The Budget includes provisions to boost capital expenditures, prioritizing public investment to build assets. She rejected suggestions of a shift toward demand-side economics, citing the increase in capital spending and the government's strong fiscal discipline. She also discussed strategic disinvestment, customs duty rationalization, simplifying the Income Tax Act, and leveraging AI in agriculture, urban development, and healthcare to drive future growth.
Source: IBEF
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