Budget important message for global economy: Minister Jaishankar

Calling the budget presented by Finance Minister Nirmala Sitharaman as "exceptionally important", External Affairs Minister S Jaishankar on Wednesday said that it was the first budget of the third term of the NDA government.

Jaishankar said that the budget is presented at a time when the global situation is very volatile, uncertain and very difficult in many ways.

Speaking to ANI, the EAM highlighted how the budget is seen from a global perspective. He said, "The budget seeks to maintain growth, manage and reduce inflation, to ensure that our national capabilities and that India's growth, prosperity, progress and development is not affected by a negative international environment."

Jaishankar added that FM Sitharaman had laid out nine priority areas in the budget.

"The priority areas are skilling and education, infrastructure and services, boosting agriculture, infrastructure development, managing the urban growth. There is a total package out there. These steps will make India a much more serious player in the global economy."

Jaishankar said that the world expects India to fuel growth at this time. "Therefore, some of the key steps are also how to flow in foreign investment more effectively, how to attract technology, and how to boost manufacturing. This is a macro analysis I would give of the budget from the viewpoint of foreign policy."

Jaishankar added that the 22 per cent growth in the Ministry of External Affairs' budget will allow it to focus on the country's neighbourhood.

"It [the budget hike] will allow us to support and work with the global South. It will help us to facilitate and support Indians going abroad. Our passport services will improve in many ways. I think as a result of all of this, the country will be more secure because our neighbourhood will be much more friendly as a result of all that we do."

Jaishankar said that he was pleased with the budget and said that the country should appreciate it.

"I am very pleased with the budget. But I want to say very objectively, that our country should appreciate that at this very difficult time in the global situation, this is a very good budget which will sustain India's growth in a complicated environment. It will allow Indian diplomacy to serve the country and I think that's why it should be applauded," he said.

(ANI)