New Delhi: With India’s economy recovering from the pandemic situation for a long time, Finance Minister Nirmala Sitharaman said that there is no rush to withdraw the stimulus as policymakers want to ensure that the country is on a sustainable growth path.
However, Sitharaman shared her concerns over rising crude oil prices, saying that prices are emerging as a major challenge and the uncertainty may affect some plans to bring the economy back on track.
Read also: Bihar CM Nitish Kumar calls J&K LG, expresses concern over killings of non-locals in Kashmir
Speaking from New York on Sunday, Sitharaman said, “The challenge I will face, and the teams are also looking at the ministry, is the way fuel prices are headed towards a bigger peak.”
According to Bloomberg, “This uncertainty is a huge element to me, which is still an impossibility and I don’t know how much to deviate from the other most important ideas, and that’s the challenge.”
Sitharaman is on a visit to Washington DC and attended the annual meetings of the World Bank and the International Monetary Fund. The Finance Minister also mentioned that the government has already given a certain amount of public spending in infrastructure to support the economy.
India’s recently launched Rs 100 lakh crore infrastructure master plan, digitization and ‘Make in India’ initiative were among the key themes on which Finance Minister Nirmala Sitharaman spoke at the Big Apple here on Saturday. Discussed with business executives.
As per the estimates of Reserve Bank of India and International Monetary Fund, India is expected to grow at 9.5 per cent in this financial year. Rising fuel prices will make the situation more difficult as India imports a major part of its requirements due to shortage of coal.
He met Mastercard Executive Chairman Ajay Banga and Mastercard CEO Michael Mibach here on Saturday.
“Initiatives and progress towards #Financial Inclusion & #Digital Transformation became part of the discussion,” the Finance Ministry said in a tweet.
.