Govt Plans New Scheme to Strengthen Deep-Tech for Defence Purposes: Nirmala Sitharaman

Interim Budget 2024: Union Finance Minister Nirmala Sitharaman revealed on Thursday, while delivering the interim budget for 2024, a plan for launching a new scheme to strengthen deep-tech technologies for defence purposes and hasten self-reliance. Keeping up with the budget tradition, she presented India's interim budget on February 1, delivering one of her shortest speeches among the six budgets she has presented.

A new scheme will be launched for strengthening deep-tech technologies for defence purposes and expediting self-reliance, Nirmala Sitharaman said.

The Union Defense Minister Rajnath Singh reacting to the budget said, "It gives us hope, as the interim budget shows, that our economy will reach over $5 trillion by 2027. We will achieve the target for 2047 also; we are confident about that.”

During her 57-minute speech, she also discussed the government's vision of 'Vikshit Bharat.' Sitharaman stated, “The vision for Viksit Bharat is that of a prosperous Bharat, in harmony with nature, equipped with modern infrastructure, and providing opportunities for all to reach their potential.”

She also added that "the next five years will be years of unprecedented development and golden moments to realise the goal of a developed India by 2047." The Finance Minister further remarked, "The trinity of democracy, demography, and diversity, backed up by Sabka Prayaas, has the potential to fulfill the aspirations of every Indian."