Nirmala Sitharaman's Historic Budget Challenge: Steering India Through Economic Storms
Finance Minister Nirmala Sitharaman is preparing her eighth Union Budget amidst challenges such as slowing economic growth and a weakened Rupee. Collaborating with high-level officials, she aims to balance fiscal prudence with growth. Her past experiences position her uniquely to tackle these economic hurdles.
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- India
Finance Minister Nirmala Sitharaman is poised to mark history with her eighth consecutive Union Budget. Her intricate collaboration with officials, including Finance Secretary Tuhin Kanta Pandey, is aimed at crafting a budget exceeding Rs 50 lakh crore for FY26.
The upcoming budget faces daunting challenges—decelerating economic growth, a declining Rupee value against the US dollar, and softening consumption demands. With growth forecasted to slow to a 4-year low of 6.4% in FY25, the scenario echoes the post-COVID economic landscape.
Sitharaman and her adept team, comprising seasoned bureaucrats like Economic Affairs Secretary Ajay Seth and Expenditure Secretary Manoj Govil, must engineer growth strategies while adhering to fiscal prudence. The government remains committed to keeping the fiscal deficit below 4.5% of GDP by FY26 amidst various economic pressures.
(With inputs from agencies.)
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