"This is secularism in action, reduces corruption, prevents nepotism": Nirmala Sitharaman

NEW DELHI: Union Finance Minister Nirmala Sitharaman on Thursday said the concept of social justice was used as a political slogan in the previous governments, however, today the BJP-led Central government has adopted the idea of social justice into its governance adding that the policies of the Centre has brought "secularism into action, reduced corruption, and prevented nepotism".

"This is secularism in action, reduces corruption, prevents nepotism," Finance Minister Nirmala Sitharaman said while presenting the Interim Budget 2024 in Lok Sabha.

"Social Justice was largely a political slogan. For our government, social justice is an effective and necessary governance model !! The saturation approach of covering all eligible people is the true and comprehensive achievement of social justice," Nirmala Sitharaman added. Highlighting that every citizen in the society is getting equal opportunity irrespective of status, Nirmala Sitharaman said," There is transparency and assurance that benefits are received to all eligible people, all regardless of their social standing get access to opportunities.

We are addressing systemic inequalities which have plagued our society, our focus is on outcomes and not on outlays so that socioeconomic transformation is achieved." Union Finance Minister Nirmala Sitharaman pegged the fiscal deficit target for 2024-25 at 5.1 per cent of gross domestic product (GDP).

In 2023-24, the government pegged the fiscal deficit target for 2023-24 at 5.9 per cent of gross domestic product (GDP). The difference between total revenue and total expenditure of the government is termed a fiscal deficit. It is an indication of the total borrowings that may be needed by the government.

The government intends to bring the fiscal deficit below 4.5 per cent of GDP by the financial year 2025-26. Further, in relief to the citizens, the central government neither tweaked nor raised the tax burden on citizens.

"As for tax proposals, in keeping with the convention, I do not propose to make any changes relating to taxation and propose to retain the same tax rates for direct taxes and indirect taxes including import duties," said Sitharaman.

The Finance Minister concluded her budget presentation with a positive outlook, signalling the government's determination to continue fostering inclusive growth and development.

The Interim Budget 2024 is expected to undergo thorough scrutiny and debates in the coming days in the Parliament, as stakeholders assess its potential impact on the nation's economic trajectory.