'Modi government has given a new shape to the budget in the last decade', said Finance Minister Nirmala Sitharaman

Finance Minister Nirmala Sitharaman said on Monday that in the last 10 years, Prime Minister Narendra Modi-led government has transformed the Union Budget from a record of expenditure into a strategic blueprint for equitable distribution. The minister stressed that the government will continue to make the best possible use of taxpayers' money.... He said the Modi government has prioritized transparency in its budget practices and data. Countries with transparent budgets are often viewed more favorably by international bodies such as the International Monetary Fund (IMF) and the World Bank. This can improve global trust.

Sitharaman wrote in a series of posts on social media platforms This is in sharp contrast to the current practice, which shifted some of the fiscal burden to future generations. Under the UPA, standard fiscal practices were routinely changed to make budget figures appear favorable.

He said the last decade has seen considerable improvement in the credibility of the Union Budget, leaving behind old constraints and practices. Sitharaman said, “Our government has transformed the budget from a mere record of expenditure into a strategic blueprint for equitable development. “We make judicious and judicious use of every rupee collected from our taxpayers…presenting a transparent picture of public finances.”

Further, she said that the Union Budget under the Modi government is characterized by fiscal prudence, transparency, and inclusivity, which ensures investment in social development and infrastructure. Sitharaman said that the central government, through state and union territory governments, will spend Rs. Sponsored Schemes (CSS), with a budget of about Rs 5.01 lakh crore for the financial year 2024-25. For the financial year 2023-24, it was Rs 4.76 lakh crore.

The minister said the Modi government is committed to harnessing state-of-the-art technology, enhancing transparency, and taking forward the ongoing reforms to lay a strong foundation for a developed India. “We will continue to maximize the value and impact of taxpayers’ hard-earned money, ensuring it is put to the best possible use for the benefit of all,” he said.