Addressing the post-Budget press conference, the Finance Minister said that the total capital expenditure allocation this time is 12.2 lakh crore, which is 4.4 per cent of GDP,the highest in the last 10 years, to give a major push to structural reforms to support the overall economic growth. Ms. Sitharaman said the government expects the fiscal deficit to be at 4.3 per cent of the GDP in 2026-27, lower than 4.4 per cent projected for the current financial year.
Replying to the questions regarding the provisions in the technology sector, She said the 21st century is completely driven by technology and the government will ensure that technology is brought in to benefit the common man. Ms Sitharaman said 1000 crore rupees per year per city is being given, and the emphasis is going to be largely on tier 2 and tier 3 cities.
While asked about the electronic sector, She said the electronic components manufacturing scheme for 40,000 crores rupees is a major encouragement for India to become self-sufficient.
On the rare minerals corridor, She said the government has announced establishing rare earth corridors so that India can be able to meet its own requirements with its materials.
The Financial Minister said once the government identifies and be able to explore these minerals, the country’s dependency on external sources will be lesser. She also noted that looking at the success of Defence corridors, the rare-earth corridors will make a big difference to the Indian economy.
