M. Asnikumar Singh, Spokesperson, BJP, Manipur Pradesh & Chairman, Loktak Development Authority ( LDA), Govt of Manipur briefed the media on “ recent union interim budget 2024 and White Paper on the Indian Economy.

Asnikumar elaborated on the economic aspect and stated the following which is highlighted below:

In 2014, when our government started, the economy was in bad shape. There was a lot of corruption, mismanagement, and financial problems. We had a big job ahead to fix things. We didn’t want to talk too much about how bad it was because it might scare people and investors. Instead, we focused on giving people hope and attracting investments. Our goal was to put the country first and not play politics. Now that we’ve improved the economy and it’s growing again, we want to talk about the problems we inherited from the previous government. We’ve overcome these challenges through good policies and decisions, putting the country on a path to strong growth.

The previous UPA government faced Policy Paralysis and Project Delays. Many big projects, especially in infrastructure and manufacturing, were stuck due to delays in approvals. Corruption was widespread, affecting government activities like procurement and resource allocation. Even crucial security procurements were tainted by corruption. Scams like 2G, CWG, Coal Block Allocation, Antrix-Devas Deal, Augusta Westland Helicopter, and Adarsh Housing Society shook people’s confidence.

When our government came into power in 2014, the economy was in bad shape. People were losing hope due to poor economic policies. That’s why they gave us a strong mandate to fix things. We immediately got to work, focusing on revamping systems and boosting development.

We’ve achieved a lot since then, from leading in digital innovation to improving public health and diversifying exports. We’ve also cracked down on illegal money practices. Our reforms have strengthened the economy, making it more attractive for investors and improving conditions for businesses.

Our goal is to undo the damage of the past and make India a strong player in the global economy. Thanks to our efforts, India has moved from being fragile to being one of the top performers, even in tough global times. Example – Then, we had a foreign exchange crisis; now, we have record foreign exchange reserves of over USD 620 billion.

Our government has focused on boosting India’s infrastructure and defense, crucial for national security. We’ve also taken steps to attract both domestic and foreign investors, leading to increased optimism about India’s economic growth.

We’re committed to improving public welfare through inclusive policies like “sabka sath, sabka vikas”. By using technology and targeted approaches, we ensure that social programs reach those who need them most.

Our government supports entrepreneurship through initiatives like Start-Up India and provides accessible credit through schemes like Mudra Yojana. We aim to empower job creators across society.

When our government took office, public finances were in bad shape. We worked hard to improve them by reforming our tax and spending systems. We’ve been transparent about our finances, disclosing all spending, including previously hidden costs.

Introducing the GST was a big step forward in tax reform. Over the past decade, we’ve made significant improvements in revenue collection. We’ve also worked closely with states to ensure fair distribution of resources for public welfare.

In the Budget 2024, the government’s focus has been on four main groups: the poor, women, youth, and farmers. Their needs and welfare are top priorities because when they progress, the country progresses. It believes that by leveraging democracy, demography, and diversity, every Indian’s aspirations can be fulfilled. Special attention will be given to the eastern region to drive India’s growth. The budget emphasizes infrastructure, tourism, logistics, and research innovation, ensuring sustainable economic growth.

The government is committed to fiscal responsibility, aiming for a targeted fiscal deficit of 4.5% of GDP by FY26. The focus remains on strengthening domestic factors like infrastructure, agriculture, and tourism while maintaining fiscal discipline. This is good news for foreign investors, possibly leading to a ratings upgrade. Through the right policies and decisions, the government has made significant progress.

On behalf of BJP Manipur Pradesh and the people of Manipur, we extend our sincere gratitude to our visionary Prime Minister, Shri Narendra Modi, Union Finance Minister, Nirmala Sitharaman, and Team Modi for unveiling the Union Budget 2024. This budget embodies the government’s dedication to sound policies, sincere intentions, and judicious decisions. It is meticulously crafted to foster inclusive growth, ensure economic stability, strengthen our global standing, drive sector-specific advancements, promote environmental sustainability, and initiate tax reforms. With a clear vision towards achieving a developed India by 2047, the budget sets a strong foundation for our nation’s prosperous future.

I firmly believe that in the upcoming Lok Sabha Election 2024, BJP will secure 370 seats and NDA will surpass 400 seats. Prime Minister Shri Narendra Modi will earn a third term, continuing to lead our nation on its path of development, progress, and a superpower.

The Amrit Kaal has just begun and our destination is “India a developed nation by 2047”. It is our Kartavya Kaal.

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