NIRMALA Sitharaman has not had an easy time as India's finance minister six months into her stint, the COVID pandemic hit India and the world. Two full financial years thereafter went in keeping the economy out of the negative in the face of a global recessionary crisis.
Sitharaman's hand was at the wheel all during the grim battle that kept India's macro-economy above troubled waters and then into a rebound, with the GDP coming out one of the most creditable among major economies. But the strain of uneven, jobless growth was being felt down the line and has become the prime focus of the Opposition's 2024 election campaign. In an interaction with TNIE Editor Santwana Bhattacharya and Business Editor Dipak Mondal, Sitharaman takes all the hard questions on the economy, responds with her usual panache on the controversies, and discusses the BJP's prospects in southern India. Excerpts:
Economic issues usually do not have much resonance in elections, unless cast in simplified relatable terms. it’s the emotive issues which connect and rouse people to vote. This time, the opposition is focusing on issues like unemployment and inflation. Do you think it will get traction?
I think the opposition is just using those issues to get some talking points. Strictly speaking, this government, since 2014, has constantly kept inflation within the RBi range. Only once or twice, it might have crossed that. So, the data does not support the opposition claims.
The mechanisms are all there for you to see. The supply side problems were addressed by a group of ministers who constantly made sure, in advance, that the commodities we don’t produce were imported -- edible oil is a classic case, also the various pulses. Some agricultural exports were giving great income for the farmer -- whether it was onion, or even rice and barley, wheat and sugar. But when needed, we took the decision to ban exports.
Bu hikaye The Morning Standard dergisinin April 11, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye The Morning Standard dergisinin April 11, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Giriş Yap
Modi misleading people on Cong manifesto, says Kharge
CONGRESS chief Mallikarjun Kharge called Prime Minister Narendra Modi 'jhoothon ka sardar' and accused him of lying about Congress' manifesto to mislead the public.
Grappling with rift, BJP bars MLAs from social media posts
FOLLOWING the Lok Sabha elections in Gujarat, the BJP has been grappling with allegations that some of its leaders have acted against their own party candidates.
Manipur moves against Kuki militant outfit for renaming sacred hill’
The KNF-MC had put up a signboard at the base of the Thangjing ching (hill), calling it \"Thangting camp\" of the \"Kuki Army\".
Arrest under PMLA wrong: Soren to SC
FORMER Jharkhand chief minister Hemant Soren told the Supreme Court on Tuesday that his arrest was \"wrong\" and that there was no basis for the Enforcement Directorate (ED) to invoke the Prevention of Money Laundering Act (PMLA) against him.
NIA raids across 11 states in B'luru cafe blast case
To identify conspirators involved in helping supporting the accused
New ICMR basmati rice varieties draw criticism from environmentalists
However, a group of scientists questioned the ICAR claim and termed it “over-exaggeration,” saying it would impact the country's rice biodiversity.
After studied silence, Tripura Motha chief says won't allow CAA
The ministry of Ayush has already started organising activities across states to build a momentum for the celebrations for which it had taken a special permission from the national poll body.
No respite: IMD issues heat alert, cautions people against illnesses
THE India Meteorological Department has issued a red alert for Rajasthan, Punjab, Haryana, Chandigarh, Delhi and west Uttar Pradesh due to severe heatwave conditions and advised people to take precaution as chances of developing heatrelated illness are higher.
Porsche crash: Uproar over quick bail to teen, builder dad detained
THE Sunday incident of a super-luxury car being driven full throttle at 150km/hr by a drunk teenager running two youths over in Pune has drawn flak from politicians and others, especially after the juvenile was given bail 15 hours after the incident.
THE NEED TO REFOCUS INDIA’S PATENT STRATEGY
INDIA has seen a dramatic improvement in its patent-granting process, moving from fewer than 10,000 patents annually in 201617 to over 1,00,000 patents in 202324.
