The budget for the financial year 2023–2024 is currently being presented by Finance Minister Nirmala Sitharaman at the Parliament. During her speech, she made many references to ‘Amrit Kaal'. In fact, Sitharaman was quoted as saying, "This is the first budget in Amrit Kaal, this budget hopes to build on the foundation laid in the previous budget and the blueprint laid for India@100, we envision a prosperous and inclusive India in which the fruits of development reach all."
What Does Amrit Kaal Mean?
PM Narendra Modi used the phrase ‘Amrit Kaal' for the first time in 2021 when commemorating the nation's 75th Independence Day. PM Modi used the phrase when announcing a new 25-year plan for India.
During this year's presentation of the Union Budget, Nirmala Sitharaman also used the phrase ‘Amrit Kaal' numerous times. Amrit Kaal alludes to the following 25 years that will end with the centennial of India's freedom. The Narendra Modi administration has promoted this period as being when India can work to become a developed nation.
Sitharaman projected the term ‘Amrit Kaal' as a turning point for the Indian economy. She described seven priority areas she called the ‘Saptarishi' to direct the government when describing her vision for the economy. The focus areas are:
Inclusive development
Reaching the last mile
Infrastructure and investment
Unleashing the potential
Green growth
Youth power
Financial sector
Amrit Kaal is a catch-all story that covers infrastructural, manufacturing, digital, and social growth to make the nation independent and place it not only among the developed nations but also in the third position in the world in terms of its economy. Innovation and reform are essential tools for achieving this growth.
Additionally, Sitharaman said that Budget 2023–24 will provide a roadmap for the Amrit Kaal, effectively defining measures that can enable India reach the challenging goal.
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