Finance Minister Nirmala Sitharaman announced that government initiatives are set to significantly improve living standards in India, with a goal of doubling per capita income in the coming years.

She emphasized the importance of India's youthful population, which currently sees 43% of its citizens under the age of 24, as a key driver for domestic consumption and economic growth over the next decade.

The growth strategy towards 'Viksit Bharat' (Developed India) is designed to benefit four major groups: the poor, women, youth, and farmers.

Sitharaman highlighted the robustness of the Indian financial system, marked by low non-performing asset ratios and effective debt recovery mechanisms.

The government plans to reduce the fiscal deficit from 5.6% of GDP in the current fiscal year to 4.9% in the next, bolstered by strong revenue generation and controlled expenditure.

Infrastructure investment is projected to rise by 17.1%, reaching Rs 11.1 lakh crore in FY25, which constitutes 3.4% of GDP.

During the Kautilya Economic Conclave, Sitharaman noted a decline in inequality as indicated by the Gini coefficient across both urban and rural areas.

She projected that while it took 75 years for India to achieve a per capita income of USD 2,730, it will take only five more years to add another USD 2,000.

By 2047, marking a century of independence, India is expected to reflect characteristics of developed nations, promoting prosperity for its citizens and the global community.

The government is committed to ensuring policy continuity through sustained reforms in infrastructure, banking, trade policy, and the ease of doing business.

Looking ahead, the budget for FY26 is anticipated to be presented in Parliament on February 1.