Centre, RBI making efforts to boost consumption: Sitharaman at Times Now summit

BUSINESS


NEW DELHI: Union finance minister Nirmala Sitharaman on Wednesday said that the Centre and the Reserve Bank of India (RBI) are making constant efforts to boost consumption. At the Times Now summit, the finance minister stated that rejig in the income tax (I-T) slabs — announced in the Union Budget 2020 — can be seen as an example as it aimed at putting more money in the hands of people.
Sitharaman also mentioned that the capital expenditure has increased too.
Talking about unemployment concerns, she said that while there is no comprehensive data on employment in both formal and informal sector, there are signs which show jobs are being created.
“(The) government is acting on all the issues that need attention. There are signs of positivity in sectors. Credit to the retail sector has seen an uptake, people have again started buying homes and MSMEs (micro, small and medium enterprises) have a new lease of life,” she added.
Commenting on the economic offenders, the finance minister said that “after the (Modi) government came to power and once the heat was on, they (fugitives) have no way rather than fleeing the country” while adding that “they can choose to run away from the country but they can’t run away from the legal system”.
On the recent Delhi election results, she stated that, “We have not lost Delhi as it was with Aam Aadmi Party (AAP) already. (The) Modi government has come up with more mandate in Delhi.”





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