Reforms momentum will continue: FM

From tariffs and Centre-state relations to how she unwinds, Finance Minister Nirmala Sitharaman covered vast ground on the inaugural day of the BSsummit; Telecom & IT Minister Ashwini Vaishnaw spoke about India's competitive advantage in the global semiconductor space. And, there was much more...

The government will continue the push on its reforms agenda in its "third term❞ since political continuity, along with a predictable and stable economic environment and taxation structure, is important to achieve the laid-down developmental goals, said Union Finance Minister Nirmala Sitharaman while delivering the keynote address at the inaugural edition of the annual Business Standard summit, Business Manthan, in New Delhi on Wednesday. The first day of the summit, celebrating Business Standard's 50th year, saw a galaxy of stars from the world of economy, politics, business and sports.

In a fireside chat that followed Sitharaman's keynote address, she explained the nuances of the higher tariff policy in some sectors. "Atmanirbhar Bharat is not a regressive step, but a considered, calibrated one," she said. While pointing out that the imposition of tariffs is not a permanent stance of the government and that calibrations are being made to the policy, she said, "it is not a permanent shut the door".

Inaugurating the two-day summit, the finance minister spoke on a range of issues: On how revenue collection supported by prudent expenditure management has helped to contain the fiscal deficit; how from a twin balance sheet problem in 2014, India now had a twin balance sheet advantage; why in matters of economy, Centre-state differences should not arise on grounds of politics; and how digital transformation was drawing the world's attention and admiration. She also spoke about how she unwinds: “Listening to a lot of music and reading a lot of books."

As a pathway to becoming a developed country by 2047, she listed four "I"s: Infrastructure, investment, innovation, and inclusiveness.