Indian Minister Piyush Goyal announced significant budget allocations that include major investments in railways and free trade agreements with 38 countries, highlighting benefits for Maharashtra and the overall economy.
During a budget discussion, Indian Minister Piyush Goyal emphasized the government's substantial budgetary provisions for railways, which have increased from ₹1,000 crores under the previous UPA government to ₹20,000 crores now. He attributed these developments to the Prime Minister's multi-faceted vision for India's growth. Goyal pointed out that this investment will not only benefit the infrastructure development in Maharashtra but will also increase employment opportunities across all demographics, underscoring the budget's focus on ensuring a brighter future for every citizen.
Goyal also highlighted the government's commitment to skill development for children, with an allocation of ₹5,000 crores targeted at enhancing their capabilities. He stated that the development of railways and ports will stimulate tourism in Maharashtra, making historical sites more accessible. The announcement about the Free Trade Agreement (FTA) with 38 countries reflects India's ambitions on the global trade stage, indicating a strategic move that aims to bolster economic growth while safeguarding the interests of farmers and labor.
Furthermore, Goyal mentioned that 70% of global trade is now open to India, a significant milestone that could lead to increased export opportunities and facilitate stronger partnerships with international markets. By securing these trade deals, the government is positioning India as a vital player in global commerce, thus enhancing its economic standing and creating a ripple effect that is expected to benefit various sectors of the Indian economy.
