Nirmala Sitharaman takes charge as Finance Minister for second consecutive term

Nirmala Sitharaman assumed office as the Finance and Corporate Affairs Minister for a second consecutive term on Wednesday. She is set to present the final Budget for FY '25, which will outline the Modi 3.0 government's priorities for a "Viksit Bharat."

Upon arrival at the North Block office, Sitharaman was welcomed by Finance Secretary T V Somanathan and other top officials. Minister of State for Finance Pankaj Chaudhary, who took charge the previous evening, was also present.

Nirmala Sitharaman takes charge

After assuming her role, Sitharaman was briefed on ongoing policy issues by department Secretaries. She emphasized the government's commitment to ensuring 'Ease of Living' for citizens and continuing reforms initiated since 2014 to provide macroeconomic stability and growth.

Sitharaman highlighted India's robust growth amidst global challenges and expressed optimism about the country's economic outlook. She urged departments to advance the NDA government's development agenda with renewed vigor, aiming for responsive policymaking to achieve the vision of 'Viksit Bharat.'

The minister reiterated the government's motto of 'Sabka Saath, Sabka Vikas, Sabka Vishwas, Sabka Prayas' and called for the cooperation of all stakeholders to ensure a strong economy.

First Female Finance Minister

Sitharaman, the first full-time female Finance Minister of India, is set to present her seventh consecutive Budget. She previously served as the first female Defence Minister in 2017. In her last term, she was noted for significant reforms, including a corporate tax cut to 22%.

During the pandemic, Sitharaman announced a Rs 20 lakh crore economic package to support the economy. Under her leadership, India emerged as the fastest-growing major economy. She also managed to reduce the fiscal deficit to 5.6% of GDP in FY24.

Sitharaman's political journey began in 2008 with the BJP, and she quickly rose to become the party's second woman spokesperson. Before her political career, she was part of the corporate world in the UK and worked with the National Commission for Women in India.

[With inputs from PTI]

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