GDP growth over 7.4% in 2014-19, debt cut to 48.7%: Finance Minister

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GDP growth over 7.4% in 2014-19, debt cut to 48.7%: Finance Minister

Last Updated : 01 Feb 2020 11:55:01 AM IST

FM Nirmala Sitharaman in Lok Sabha

Finance Minister Nirmala Sitharaman said Central government's debt reduced to 48.7% of GDP in 2019 from 52.2% and has clocked a GDP growth of 7.4% over 2014-19 & FDI increased from $119 bn in 2009-14 to $ 284 billion.

Presenting the Budget 2020 in Lok Sabha on Saturday, she said: "There are one million people out of poverty and we should be proud of it. We have moved on from over 4 per cent growth in 1950s to 7.4 per cent to 2014-19 period. Motto of 'Sabka saath, sabka vikas and sabka vishwas' has implemented new programmes for the poor and disadvantaged under Prime Minister Modi."

"We have clocked a GDP growth of 7.4% over 2014-19 and FDI increased from $119 billion in 2014-19 to $284 billion", she said.

Economic Development would entail reforms across the economy and more space for the private sector. She said the Budget is woven around 3 prominent themes -- aspirational India, economic development and a caring society.

Earlier she said in May 2019 PM Narendra Modi received a massive mandate to form the government again. We wiIl serve with humility and dedication, she added.