New Delhi, Nov 04: Finance Minister Nirmala Sitharaman announced that India is on the verge of becoming the world’s third-largest economy, having progressed from the 10th largest in 2014 to the 5th.

She noted that 25 million people have been lifted out of multidimensional poverty and emphasized the need for India-centric research and policy adaptation for emerging economies.

Sitharaman also reported improvements in public sector banks, attributed to reforms initiated to address past fiscal challenges, and expressed confidence in achieving a fiscal deficit target of 4.4% for 2025-26, while maintaining that the deficit remains controlled and conducive to stable economic growth.

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