Will continue free food programme this year to ensure that no family goes hungry: FM Nirmala Sitharaman

Finance Minister Nirmala Sitharaman stated that the central government is ensuring that public expenditure continues to grow in order to have a desired multiplier effect on all the sectors as per the directions set by PM Narendra Modi. She was speaking at the Post Budget Session of PHD Chamber of Commerce and Industry (PHDCCI) on February 15.

The minister stressed on the fact that the aim of the government is to ensure that all families get food. “We will continue with the free food programme throughout this year, ensuring that no family is left without food,” stated Nirmala Sitharaman.

The Union Finance Minister also asserted that capital expenditure has the potential to benefit a range of core industries, thus making it an effective way to ensure that money is directed to the right places and generates multiplier effects.

“For the last 3-4 years, there has been a consistent emphasis on public capital expenditure, such as in last year's budget. And this year's budget has seen a 30 percent increase in capital expenditure. "This is the first time in many years that capital expenditure has reached double digits, making it the clear focus of this budget," FM Sitharaman said during her speech.  

Sitharaman stressed on the fact that the Budget has been designed to support the Micro, Small, and Medium Enterprises (MSMEs) sector as they form the backbone of the Indian economy.

“In addition to inclusion, our major focus should be on Micro, Small, and Medium Enterprises (MSMEs), which are the backbone of the Indian economy and important job creators. Unlike large units that are often located in specific places to leverage scale, MSMEs are spread throughout the country, creating local employment wherever they are found.” 

She also informed that the central government is collaborating with the states, as well as the Tier III administrations, such as the Panchayats or ward-level administrations, to ensure that MSME priorities remain at the top of the agenda. 

She also informed about the importance of women's empowerment, as a significant portion of the self-help groups (SHGs) in the villages are actually women's groups. In fact, there are more than 81 lakh women's SHGs in the country. To ensure that these groups have greater access to resources, professional assistance, and market linkages, we are adding branding and market finding activities to their portfolio. With these initiatives, we hope to enable true women's empowerment, allowing them to scale up their activities and run a professional, profitable, and government-supported women's group. 

Speaking at the session Shri Saket Dalmia, President of PHD Chamber, lauded the government's focus on the short-term needs of the economy as well as the long-term vision to make India a developed nation by 2047. He said that the rise in farm incomes, the well-established linkage of the agriculture sector with Industry, and innovative solutions for this sector will be a stepping stone towards achieving the goal of inclusive development.