News Leak Centre

No Fear No Favour

Nirmala Sitharaman highlights red-lettered priorities for India

Edited by: Divya Thearia

7 September 2022 (New Delhi): US-India Business Council’s India Ideas Summit was held on Wednesday, 7th September 2022. On this event, finance minister Nirmala Sitharaman said that job creation and equitable income distribution are our top red-letter priorities.

Finance Minister Nirmala Sitharaman said that Reserve Bank of India (RBI) can manage the volatility due to aggressive rate hikes by the US Federal Reserve and European Central Bank (ECB). Sitharaman was speaking at the India Ideas Summit. Inflation is also a priority but not a red-letter one as we have been able to bring it down over the last couple of months. In her speech she said “India doesn’t have the luxury of sequencing priorities and efforts to tackle them must take place simultaneously”.

Speaking at the summit, she further the government will review the functioning of the National Investment and Infrastructure Fund (NIIF) to make it stronger.

India and South Africa are emerging markets

When asked about the G20 meet which will be in November this year, Sitharaman said that India will be taking over the G20 chair at a very challenging time. The key areas of discussion are yet to be revealed by the minister. She said “We will be taking over the G-20 chair at a very challenging time, but it is equally heart-warming that Indonesia, India and South Africa are all emerging markets. This is important because emerging markets are showing potential to lead the global economy in the next 50-60 years.”

Government is focusing on making energy affordable for all: Sitharaman

A new Data Privacy Bill which will be a product of consultations and which will address stakeholders’ concerns, will be out soon. The Minister has been working very diligently and has assured us the new bill will be ready soon, she added. She also addressed her concern about India’s anxious interest in shifting to renewable energy and reducing coal dependency. However, a key concern in this area of development is the population. India’s huge population is affecting the energy transition.

Leave a Reply

Your email address will not be published.