Sitharaman critiqued the Opposition, particularly the Congress, for raising concerns regarding Budget allocations, insufficient funds for Jammu and Kashmir, agricultural and related domains, and rising inflation. Responding to these issues, Sitharaman reiterated that the Budget has diligently accounted for all economic sectors and ensured adequate funding allocation for each state.

Emphasizing the Budget’s alignment with diverse growth dimensions, Sitharaman asserted unwavering support for cooperative federalism. She noted the improved financial status of the Union territory of Jammu and Kashmir, highlighting the successful turnaround and profitability of the J&K Bank. Sitharaman underscored the government’s steadfast dedication to cooperative federalism, disclosing a proposed transfer of 22.91-lakh crores to states in 2024-25, reflecting a 2.49-lakh crores increase from the previous fiscal year.

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In his address, Modi criticized the UPA regime, underscoring that his administration had tripled India’s budget over the span of a decade, increasing it from 16 lakh crore in 2014 to 48 lakh crore in 2024. He emphasized India’s unique position amidst global uncertainties, citing the country’s impressive growth rate and low inflation levels. Despite facing economic challenges in the last decade, India has maintained a 16% share in global growth.

“The combination of high growth and low inflation sets India apart on the world stage, making our fiscal policies a beacon for others to follow,” stated the Prime Minister.

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