Nirmala Sitharaman: Her Knowledge & Expertise bolstering-up the Startup Economy Indian Finance Minister Nirmala Sitharaman was elected as Finance Minister for 5th time. She is the country's only first woman to get charge of the finance for a full term. Through the recent budget, she cut the corporate tax to 22%, from 30%. Sitharaman is very much hopeful that, her fiscal policies will lift India from its 5th largest economy to 3rd position. She has noticed that, there is lack of adequate data, under Sitharaman’s leadership, government supports have reached to individuals and startups through various targeted schemes. The government has generated 1 million jobs individuals through ‘Rozzgar Mela’ initiative.

The scheme Viksit Bharat 2047 was started with productive policy framework and a well-prepared government which highlighted the significance of the International Financial Services Centre (IFSC) at GIFT City. This GIFT City will be the essential gateway for the growth of services in Gujarat and it will offer the whole country access to global market to grab lucrative investments.

Sitharaman is targeting to bring down the fiscal deficit from 5.8% to 5.6% with various fiscal policies in the years to come and want to provide a healthy evolving economy to support the efforts.

Road Ahead

The Union Minister Jitendra Singh exclaimed that, the startups in India have grown 300 times over the ten years. PM Modi’s painstaking efforts to make the youth of India find out new avenues of livelihood which are more lucrative than being a government employee. Modi’s out of the box ideas and initiatives has given a thrust to different sectors like railways, roads, infrastructure, and electronics-communication.

This year Indian startups are ready to take a deadly jump underpinned by scientific acumen and technological prowess. The youth of India or ‘Amrit Peedhii’ will take the center stage in policy formation because these little priorities will give them a strong supportive wing to fly high along with the economy.