Finance Minister, Nirmala Sitharaman said on Monday, the main focus would be equal distribution of wealth so that it develops the advanced economy in the next 25 years.
This scheme “One Nation One Ration” would be implemented in the remaining states which helps the migrant workers, they can claim Ration anywhere in the country. This scheme is implemented by 32 states (including Union Territories) and 69 crores of beneficiaries are benefited now.
On India’s growth, she said India’s growth will be driven by fiscal spending.
Further, she said, they are planning to make a portal to get information about migrant workers which helps in formulating the policies on Housing, health, insurance, credit, and food schemes for migrant workers.
“The next 25 years would be important for India”, Sitharaman said on the public sector privatization budget, that Government should proceed with banking sector reformation. ‘We have plans now of what implications should be there if your GDP goes out of control’, she added.
The Government has proposed on public investment by raising the capital from 35.4%. BRICS (Brazil, Russia, India, China, and South Africa) finance ministers and central bank governors also discussed various issues such as BRICS Contingent Reserve Arrangement, Infrastructure investment, etc.
Also, the government is planning to increase the Tax GDP ratio. The finance minister said that a lot of analysis and consultations are needed, and we are ensuring that it seems reasonable and tech-driven when it’s done.