Modi Government reshaped Budget in last decade: Nirmala Sitharaman

Finance Minister Nirmala Sitharaman highlights Modi Government's transformation of Union Budget into strategic blueprint for equitable distribution.

Finance Minister Nirmala Sitharaman on May 27 said the Modi Government has reshaped the Union budget in the last 10 years from a mere record of expenditures to a strategic blueprint for equitable distribution.

The Minister asserted that the government would continue to maximise the value of taxpayers' money by putting it to the best possible use.

She said the Modi Government has prioritised transparency in its budgeting practices and numbers. Countries with transparent budgets are often viewed more favourably by international bodies such as the IMF and World Bank. This can lead to improved global trust.

"This starkly contrasts the @INCIndia-led UPA government's repetitive practice of hiding the deficits through off-budget borrowings and issuance of 'Oil Bonds', which somewhat covertly shifted the fiscal burden to future generations. Under UPA, standard fiscal practices were routinely changed to make Budget numbers look favourable," Ms. Sitharaman said in a series of posts on X.

She said the last decade has witnessed a substantial improvement in the sanctity and credibility of the Union Budget, leaving past constraints and archaic practices behind.

"Our government has reshaped the budget from a mere record of expenditures into a strategic blueprint for equitable development. We make judicious & efficient use of every rupee collected from our taxpayers and give them a transparent picture of public finances," Ms. Sitharaman said.

Further, she said the Union Budgets under the Modi Government are characterised by fiscal prudence, transparency, and inclusiveness, ensuring investments in social development and infrastructure.