Union Finance Minister Nirmala Sitharaman
| Photo Credit:
SHASHANK PARADE
Finance Minister Nirmala Sitharaman stated on Thursday that Operation Sindoor made a significant contribution to warfare, technology, indigenisation, and the integration of India’s defence forces.
Addressing students and faculty from various colleges and universities at the Institute of Economic Growth (IEG), she emphasized that the mastery of technology integration across the three armed forces is worthy of study by defence experts. “The scale and extent of this demonstration by our defence forces proves that in 21st-century warfare, India has achieved something unparalleled,” she said.
“Operation Sindoor stands as a singularly major contribution to warfare, technology, indigenisation, and the integration of India’s defence forces. It’s not about physically crossing borders—it’s about leveraging our technology to strike deep into enemy territory,” Sitharaman asserted.
Responding to another question, she noted that India’s widespread adoption of digital financial transactions has amazed the world. “India’s digital revolution isn’t confined to one segment; it has spread vertically and horizontally across the nation,” she remarked.
When asked about the rising share of capital expenditure in the overall budget, the Minister explained that while social schemes remain essential, the post-COVID-19 era has necessitated increased capital spending. The Centre has provided 50-year interest-free loans to states since fiscal 2020-21. “All states now recognize the importance of capital expenditure,” she added.
Earlier, Sitharaman met Asian Development Bank (ADB) President Masato Kanda and sought enhanced support for integrated rural prosperity initiatives, including job creation. Stressing the ‘Antyodaya’ principle—ensuring development reaches the last person in society—she urged ADB to bolster measures for rural prosperity.
The Finance Ministry stated on X: “She called for deeper ADB support in creating jobs, fostering local entrepreneurship, and driving agricultural innovation to transform villages into resilient communities.”
The Indian delegation highlighted its ‘Budget Plus’ and ‘Finance Plus’ approach to drive systemic change and innovation, aligning with India’s ‘reform, perform, anand transform’ strategy. It also emphasized agility in responding to emerging national priorities.
In line with the ‘Viksit Bharat 2047’ vision, Sitharaman stressed moving beyond basic infrastructure to achieve systemic urban governance reforms, transit-oriented development, and stronger municipal finance. She further underscored the private sector’s critical role in meeting infrastructure financing needs and encouraged ADB to catalyze private investment.
Kanda assured continued ADB support for India’s development agenda, including leveraging the bank’s global experience and best practices. He also committed support for India’s goal of becoming a developed nation by 2047.
Published on May 29, 2025
Union Finance Minister Nirmala Sitharaman
| Photo Credit:
SHASHANK PARADE
Finance Minister Nirmala Sitharaman stated on Thursday that Operation Sindoor made a significant contribution to warfare, technology, indigenisation, and the integration of India’s defence forces.
Addressing students and faculty from various colleges and universities at the Institute of Economic Growth (IEG), she emphasized that the mastery of technology integration across the three armed forces is worthy of study by defence experts. “The scale and extent of this demonstration by our defence forces proves that in 21st-century warfare, India has achieved something unparalleled,” she said.
“Operation Sindoor stands as a singularly major contribution to warfare, technology, indigenisation, and the integration of India’s defence forces. It’s not about physically crossing borders—it’s about leveraging our technology to strike deep into enemy territory,” Sitharaman asserted.
Responding to another question, she noted that India’s widespread adoption of digital financial transactions has amazed the world. “India’s digital revolution isn’t confined to one segment; it has spread vertically and horizontally across the nation,” she remarked.
When asked about the rising share of capital expenditure in the overall budget, the Minister explained that while social schemes remain essential, the post-COVID-19 era has necessitated increased capital spending. The Centre has provided 50-year interest-free loans to states since fiscal 2020-21. “All states now recognize the importance of capital expenditure,” she added.
Earlier, Sitharaman met Asian Development Bank (ADB) President Masato Kanda and sought enhanced support for integrated rural prosperity initiatives, including job creation. Stressing the ‘Antyodaya’ principle—ensuring development reaches the last person in society—she urged ADB to bolster measures for rural prosperity.
The Finance Ministry stated on X: “She called for deeper ADB support in creating jobs, fostering local entrepreneurship, and driving agricultural innovation to transform villages into resilient communities.”
The Indian delegation highlighted its ‘Budget Plus’ and ‘Finance Plus’ approach to drive systemic change and innovation, aligning with India’s ‘reform, perform, anand transform’ strategy. It also emphasized agility in responding to emerging national priorities.
In line with the ‘Viksit Bharat 2047’ vision, Sitharaman stressed moving beyond basic infrastructure to achieve systemic urban governance reforms, transit-oriented development, and stronger municipal finance. She further underscored the private sector’s critical role in meeting infrastructure financing needs and encouraged ADB to catalyze private investment.
Kanda assured continued ADB support for India’s development agenda, including leveraging the bank’s global experience and best practices. He also committed support for India’s goal of becoming a developed nation by 2047.
Published on May 29, 2025
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It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution
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