A day after she defended the Union Budget 2021 in the Rajya Sabha, Finance Minister Nirmala Sitharaman Saturday told the Lok Sabha that the reforms envisaged in the budget will lay the path for India to become the next top economy in the world. Hailing the government’s approach as “courageous,” Sitharaman credited Prime Minister Narendra Modi for spearheading these reforms.
“A challenging situation like pandemic didn’t deter the government from taking up reforms that are going to be necessary for sustaining long-term growth for this country,” the Finance Minister said while replying to the Budget discussion in the lower house. “This Budget coming post-pandemic has set the pace for India to become aatmanirbhar,” She added.
Sitharaman further said the new raft of reforms drew from the experiences of PM Modi during his time as Chief Minister of Gujarat and would mark a shift from the license quota raj and policies of socialism that restricted India’s economy and business and particularly hurt small and medium enterprises.
“This Budget draws from the experience of the PM when he was CM — on the ground in Gujarat, he had seen so many revivals happening at a time when the license quota raj was going away post 1991 and then based on that experience, commitment to reform was blended into this Budget,” she said.