Economy benefitted from the collective thinking, coordinated efforts: Finance Minister Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Thursday said that the Indian economy benefitted from the collective thinking and coordinated efforts of all the stakeholders. Sitharaman was addressing the CII Annual Meeting 2021.

The finance minister thanked the industry for being level-headed while facing the challenges during the first and second Covid wave.

Sitharaman said that the government is an active participant in the economic recovery. She said that the public spending during the pandemic ensured that the core sector grew at nearly 9%.

The country’s foreign exchange reserves are at 620 billion dollars as of July 2021, she said. “The messages and indications which are coming are very clear that the economy is revving to come out,” Sitharaman said.

On disinvestments, she said “our commitment to disinvestment and privatisation is firmly ingrained in policy. There is no discretion & there is a calendar.”