Union Finance Minister Nirmala Sitharaman said that the government will continue to prioritise capital expenditure to sustain India’s growth momentum while ensuring fiscal discipline. Speaking at HSBC India’s Third Annual Financial Inclusion Gathering in Mumbai, Sitharaman said capital expenditure had delivered good results over the past four to five years through its multiplier effect and would remain an important part of the government’s growth strategy.
Addressing the balance between welfare commitments and fiscal consolidation, the Finance Minister highlighted the role of government schemes in improving access to basic services, including food security, housing, sanitation, drinking water and healthcare insurance. Sitharaman also identified credit access, insurance and pensions as priorities for the next phase of financial inclusion. She reiterated the government’s goal of achieving insurance coverage for all by 2047 and said credit access was important for people seeking to start or expand businesses. On employment and skills, she said the government wanted every district to have AI training-capable centers to prepare young people for AI-enabled jobs and address the gap between industry requirements and the skills of graduates.
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