Union Finance Minister Nirmala Sitharaman interviewed by Raghuvir Srinivasan, Aarati Krishnan and Parvatha Vardhini C (The Hindu Business Line)
No decision taken yet on which banks will be privatised, Finance Minister says.
Fresh from presenting a Budget that represents a clean break from past policies, Union Finance Minister Nirmala Sitharaman was in Chennai last weekend to hear feedback from industrialists and common citizens. “This is a Budget that was put through the wringer to ensure that every number was credible and achievable and did not reflect over-ambition,” she said, in an hour-long interaction with Business Line. The Minister explained why her Government thinks it’s time to recognise wealth creators, the thinking behind bank privatisation and the new DFI, while defending the proposals on cess and EPF taxation.
Recently, the PM said in Parliament that wealth creators should not be run down and that babus should not be running businesses. Your Budget also had many industry-friendly features. Does this indicate a fundamental shift in governance where the BJP government is finally coming into its own in terms of a pro-wealth creators, pro-business approach?
A fundamental shift in governance was already underway between 2004 and 2019 and we are only continuing with it. Governance is now entirely focused on last-mile delivery, connectivity, simplifying regulatory and administrative compliance and keeping the government at arm’s length from institutions that had gotten too close. I think this kind of emphasis on governance had already started full force right from 2014.
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Image Courtesy: The Hindu/ K Murali Kumar
The Hindu, 22 February, 2021, https://www.thehindu.com/business/Economy/nirmala-sitharaman-interview-this-budget-was-put-through-the-wringer-to-ensure-that-every-number-was-credible/article33894899.ece
Tagged with: Ministry of Finance Nirmala Sitharaman EPF Union Budget Union Budget 2021-22 Debt-to-GDP Ratio Economic Growth GST Compensation Disinvestment Green Tax on Older Vehicles Agricultural Infrastructure Development Cess Consolidated Fund of India Development Financial Institutions DFIs Privatisation of Public Sector Banks Public Sector Banks Employees Provident Fund