Union Budget Should Focus on Taming Inflation, Boosting Growth: Yashwant Sinha
Former finance minister Yashwant Sinha has urged that the upcoming Union Budget prioritize taming inflation and accelerating economic growth. Sinha, who served as finance minister in the Vajpayee government, stressed the importance of achieving an 8 percent GDP growth rate to eradicate poverty in India.
Finance Minister Nirmala Sitharaman is set to present the Union Budget for 2024-25 in the Lok Sabha on July 23. In an interview with PTI Videos, Sinha emphasized, "The Budget should talk about addressing the issues of inflation and accelerating growth".
Sinha also questioned the Modi government's claim of having brought 25 crore people out of poverty over the past decade. He highlighted a contradiction by pointing out, "The question is that if there are only 5 crore poor, why are we giving free food to 82 crore people"?
He further advised that the Budget should focus on reducing government spending, which would subsequently lower the Centre's market borrowings. Sinha noted that opposition parties continue to raise concerns about unemployment, underlining the need for comprehensive measures to address these issues.
As the nation anticipates the Union Budget, Sinha's remarks underscore the critical need for strategies that balance inflation control with robust economic growth, aiming to create a sustainable and inclusive economic environment.
