Topic
sitharaman
Business Middle Class to Remain India’s Growth Engine, Consumption Driver by 2036: FM Sitharaman
Finance Minister Nirmala Sitharaman declared India's middle class as the engine of growth, projecting it will drive 93% of consumption by 2036. She highlighted government initiatives like Jan Dhan accounts, tax relief, and GST cuts that have broadened the base and lifted 248 million out of poverty. Separately, she co-chaired the India-France Economic & Financial Dialogue, exploring cooperation in critical minerals, high-speed rail, and financial industries.
Trade Sitharaman: External Aid Projects Must Help Northeast Products Access Global Markets
Union Finance Minister Nirmala Sitharaman said externally aided projects (EAPs) should serve as instruments to help Northeast India's local products access global markets. She noted EAP assistance increased seven-fold under the Modi government, from Rs 9,000 crore (2004-2014) to Rs 76,000 crore (2014-2026). She also inaugurated Northeast India's largest organic spice processing facility in Meghalaya.
Finance FM Sitharaman Calls Bond Market Reforms 'First Step,' Signals More Measures to Boost Foreign Capital Inflows
Finance Minister Nirmala Sitharaman described recent measures to attract foreign capital as the 'first step,' indicating further actions are under consideration. The government expanded the Fully Accessible Route for government bonds and granted tax exemptions to foreign portfolio investors, while the RBI introduced swap facilities for FCNR(B) deposits and ECBs. India's forex reserves fell by $711 million to $681.61 billion, and rising global fertiliser prices add to external sector strains.
Finance Rupee-Dollar Movement Driven by Global and Domestic Factors, Sitharaman Says RBI Steps In Only to Curb Volatility
Union Finance Minister Nirmala Sitharaman stated that rupee-dollar movements are driven by global and domestic factors such as US Fed policy, foreign capital flows, and currency crashes in Japan and Korea. She emphasised that the RBI intervenes only to curb excessive volatility, not to fix the exchange rate, using foreign exchange reserves sparingly.