Budget a fine balance, takes care of all segments, says FM Sitharaman

Finance Minister Nirmala Sitharaman on Wednesday said the Union Budget strikes a fine balance between growth, employment, and fiscal consolidation, and promotes cooperative federalism.

Replying to the discussion on the Union Budget 2024-25 and Union Territory of Jammu and Kashmir Budget in Rajya Sabha, the minister said the government is on track to achieve the pre-announced fiscal deficit target of 4.5 per cent by 2025-26.

Sitharaman, also a former defence minister, said the Agniveer Scheme to recruit people in the age group of 17.5 to 21 years, is aimed at keeping the armed forces fit, young and battle-ready.

The minister, who presented her seventh Union Budget, also said the economic document proposes unflinching support for cooperative federalism.

"I would like to underline that our unflinching commitment to cooperative federalism. The total resources proposed to be transferred to the states in 2024-25 are estimated at Rs 22.91 lakh crore. This actually entails an increase of R