India now fifth largest economy globally: FM Nirmala Sitharaman

India is now the fifth-largest economy in the world and the Central government debt has reduced to 48.7 per cent of GDP from 52.2 per cent in March 2014, Finance Minister Nirmala Sitharaman said on Saturday.

Presenting the Union Budget for 2020-21, she said the growth of 7.4 per cent was surpassed in 2014-19 with average inflation of 4.5 per cent.

Sitharaman also listed out various welfare schemes like affordable housing, direct benefit transfer (DBT) and Ayushman Bharat.