India to be $3-trillion economy this year itself: Nirmala Sitharaman

New Delhi, July 05: India is quite capable to achieve its goal of becoming $5 trillion economy in next few years, Nirmala Sitharaman said in her maiden speech as finance minister of the country.

Sitharaman, 59, presented the Modi 2.0 government's maiden budget in the Lok Sabha. She became only the second woman in the history of independent India to present the Union Budget.

"India has already become the sixth largest economy of the world. She said that as of now, India is only third, after US and China, as far as purchase capacity is concerned," Sitharaman said.

Here are the highlights of Nirmala Sitharaman's speech:

Our objective was and continues to be Mazboot desh ke liye Mazboot nagrik. With determined human efforts the task will surely be completed.

We have shown by our deeds that the principles 'perform, reform, transform' can indeed succeed. We have set the ball rolling for a 'New India'.

India is quite capable to achieve its goal of becoming $5 trillion economy in next few years.

Pension benefits will be offered to 3 crore shopowners with annual turnover of less than Rs 1.5 crore under new scheme called Pradhan Mantri Man dhan Scheme.

UDAY to be re-examained, new package for power sector tariffs, removal of unnecessary duties on power rates, open access & group captive projects to be initiated.

Will examine proposals on 100 per cent FDI in aviation, media.

ISRO will spearhead commeralisation of various space products.

As we mark the 150 birth anniversary of Mahatma Gandhi. Gaav, Garib aur Kisan will remain at the centre of all our initiatives.

Two mega initiatives Ujjwala and Saubhagya have dramatically improved ease of living, easy access of clean cooking gas, and electricity supply to the needy.

Nearly 1,25,000 km of roads will be upgraded under Pradhan Mantri Gram Sadak Yojana.

Water supply in an integrated and holistic manner will help ensure 'Har Ghar Jal' or water to each house.

Swachh Bharat has brought enormous environmental and health benefits.

A new education policy proposes major changes in higher education.

Government is developing Gandhipedia to sensitise on Gandhian principles.