00:00Mr. Kohli, first of all, I would like to understand from the economic angle that how this upcoming budget can speed up our economy.
00:08What are your expectations in terms of economy and growth from Budget 2025?
00:13Namaskar Bhavna and my greetings to all your followers and viewers.
00:18Look, the budget is coming at a time when the economy of the country has slowed down a bit.
00:24Last year, we were growing at a rate of 8.2%.
00:28The projections for the coming financial year 2024-2025 show that we will grow at a rate of 6.4%.
00:35This means that our growth has slowed down a lot.
00:39Such a sharp fall in the GDP is considered to be a sharp fall.
00:42So, I think the budget will try to speed up this slow growth.
00:47However, there is a global scenario which says that the world's economy is growing at a rate of 2.7%.
00:57So, you can understand that if India is growing at a rate of 6.4% and the global economy is growing at a rate of 2.7%,
01:03then India is also growing at a rate which is twice as fast as the previous year.
01:09However, as India is the 5th largest economy in the world and the 3rd most aggressive economy,
01:15I think India has a responsibility to become the world's growth engine for itself and for the world.
01:22Looking at this, I think that the focus of the budget will be on consumption.
01:27Why did I talk about consumption?
01:29Let me tell you that the GDP of our country is made up of 60% consumption.
01:37When you and I buy things and services, 60% of the GDP is made up of these things.
01:44The rest of the GDP is made up of manufacturing, agriculture, services, etc.
01:51So, if consumption slows down, it is obvious that the GDP will slow down.
01:56So, in order to give boost to the GDP, we need to increase consumption.
02:01The solution to increase consumption is that there are four growth engines of the economy.
02:11Let me make it easy for the followers and viewers to understand.
02:16The first engine is what the government spends, which we call infrastructure spending.
02:21The government spends a lot on roads, airports, ports, and railway stations.
02:25The government spent a lot on this.
02:27Last year, it was a little less because of the elections.
02:29So, there is a policy paralysis in the elections.
02:32It slows down a little in the elections.
02:34This engine slowed down a little.
02:36So, the government will increase this engine.
02:38This also brings money into people's pockets.
02:40This is the first engine.
02:42The second engine is private investment.
02:44Private investment is when the industry installs new factories and expands the present capacity.
02:50This is the second engine.
02:52The third engine is private consumption, which I just talked about.
02:54The fourth engine is export.
02:56So, when these four engines fire, the economy will speed up.
03:00So, I think these four engines will be focused on in this budget.
03:04So that the economy will speed up.
03:06Then money will go into people's pockets.
03:08And when money goes into people's pockets, the GDP will increase.
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