Govt alone can’t do it, says FM as she urges India Inc to invest 

NEW DELHI: Finance minister Nirmala Sitharaman urged the industry to come forward to make investments as government alone would not be able to meet the demand of an aspirational India. “Government alone, even if it brings bagsful of money, cannot just meet the demand of the growing and aspirational India,” Sitharaman said in her address to the FICCI’s National Executive Committee Meeting.

She said that the government has extended all the support the industry required during the pandemic. “I hope the industry will understand the spirit with which the Budget is placed before you and therefore come forward to participate in this inevitable exercise. Industry, having cleared all its debts and finances, should now be in a position to invest money to expand and grow and clearly show signs that it is now ready to receive any joint ventures for the sake of technology that it prefers to have,” Sitharaman emphasised.

The finance minister further stated that for providing immediate stimulus to the economy, the government will be spending in a big way in public infrastructure. Three large areas where big ticket expenditure will happen are infrastructure, health and agriculture. Sitharaman said that the Budget was trying to raise resources which were non-tax at a time when the country needed a lot of money to spend.

“It’s a Budget which raises resources but not on the back of increased taxation. There is a directional change in the Budget which is so distinct that it will fuel the entrepreneurial spirit which the Indians show given the right opportunities,” she added. The meeting was attended by Finance secretary Ajay Bhushan Pandey.