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Budget 2020-21: Between 2006-16 India Raised 27 Million People Out Of Poverty: FM Speech

"With renewed vigour, under PM's leadership, we commit ourselves to present the people of India with all humility and dedication. People have reposed faith in our economic policy," says FM Sitharaman

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Presenting her 2nd Union Budget for the fiscal year 2020-21, Finance Minister Nirmala Sitharaman listed out the achievements of the NDA government and gave comparison with earlier years and decades gone by.

"With renewed vigour, under PM's leadership, we commit ourselves to present the people of India with all humility and dedication. People have reposed faith in our economic policy," said Sitharaman in her opening speech in Lok Sabha.  

"Our people should be gainfully employed, our businesses should be healthy, for all minorities, women and people from SCs and STs, this Budget aims to fulfil their aspirations," she said.

Listing out the achievement of the Modi government, the finance minister said the rollout of GST led to benefits to the MSME sector. She said under the Modi government the average household was saving 4 per cent of their monthly income.

She said in the past two years more than 60 lakh new taxpayers added in the last two years and a total of 40 crore returns were filed.

Speaking about speeding up the governance process, Sitharaman said 800 crore invoices were uploaded post-GST rollout and 105 crore e-way bills were generated. 

She said the schemes and programmes benefiting poor, disadvantaged have been speeded up and the credit support, insurance protection, digital penetration, affordable housing is given importance.

She said during 2014-19, the growth rate was 7.4 per cent on average with inflation at 4.5 per cent on an average. "Inflation was close to 9 per cent in last two decades of last millennium, and 10.5 per cent in 2009-14," she added. 

She emphasized that between 2006-16 India raised 27 million people out of poverty.


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