Nirmala Sitharaman Addresses Issues Of Lowered GDP And Liquidity Crisis

Republic Summit 2019

Finance Minister Nirmala Sitharaman attended the Republic Summit in Delhi and discussed a wide range of topics on the economy

Written By Nisha Qureshi | Mumbai | Updated On:

Finance Minister Nirmala Sitharaman attended the Republic Summit in Delhi and held an exclusive talk with Republic Media Network's Editor in Chief Arnab Goswami and discussed a wide range of topics on the economy. The Finance Minister said that the Government along with Prime Minister Narendra Modi is working towards bringing positive changes in the economy. 

Rs 2,50,000 liquidated

The Finance Minister spoke exclusively about the 'outreach programme' that had two phases. The two phases were during the Navratri season and the second before and after Diwali. Further, crushing claims about there being no liquidity in the market, the Finance Minister said that after the outreach programme, the total liquidity that went into the hands of people under various categories was Rs 2,50,000 crores. She claimed the NBFCs (Non-banking Financial Companies) due to the increased liquidity recieved over Rs 16,000 crores and said the problem was 'not about no availability of liquidity but the non-availability of those who wanted to use it'.

'After-tax cuts were announced, many have shown an interest to invest in India'

While answering a question about the lowered GDP and the economic slowdown, the Finance Minister said the issue is 'lagging' and claimed that FDIs have increased unprecedently. This indicates that people are investing in India. The Finance Minister said that after tax cuts were announced, various companies have shown an interest to invest in India. She also assured that she would pump money into the Indian economy by the means suggested during the budget to make India a 5 trillion-dollar economy. 

When asked about why the private investment is not picking up in the country, the Finance Minister said that investments will follow post tax cuts. She also spoke about the importance that the Government is giving to the real estate sector and announced that the Centre's financial assistance to 'ten stalled housing projects' under the first tranche will be released by December 15. 

READ | No recession in Indian economy: Finance Minister Nirmala Sitharaman

READ | Nirmala Sitharaman requested to make interpretation of financial laws easier

Published:
By 2030, 40% Indians will not have access to drinking water
SAVE WATER NOW
PEOPLE HAVE PLEDGED SO FAR
DO NOT MISS