Finance Minister Nirmala Sitharaman is presenting the first Union Budget speech of the Modi government since its decisive victory in May.
Nirmala has said that India is expected to be a $3 trillion dollar economy by this year itself. She has also noted reforms to promote rental housing and finalising model tenancy laws. She said the budget also focussed on the needs of gaaon, gareeb and kisaan (village, the poor, and farmers).
Foreign Direct Investment flows to India last financial year was recorded at $64.37 billion, which is a 6% growth. The government is considering inviting suggestions to increase FDI in aviation, media and other sectors.
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