The finance minister says CAG’s comments on fiscal deficit are being looked into seriously.
The government is closely monitoring developments in the economy, including the slump in the automobile sector, and is open to sectoral interventions, Union finance and corporate affairs minister Nirmala Sitharaman told Deepshikha Sikarwar and Vinay Pandey in an interview. Edited excerpts:
There are renewed concerns over growth. The International Monetary Fund (IMF) and Asian Development Bank have cut forecasts and also pointed to demand issues. Corporate results have been muted. Are you worried?
Well, not really. I wouldn’t say worried. Of course, I will be closely watching developments and making sure that timely responses are made from the government’s side, not knee-jerk but considered (reactions). I don’t want to sound complacent, but it is also a fact that in spite of global headwinds, India is keeping its head well above the water. And, if you notice, this particular assessment of growth is not just for India. Globally, economies are slowing down, but we are managing to keep it at 7 (% growth) or above. It’s an observation by the IMF.
You might also be interested to read: As Slowdown Bites, India Inc Readies To Tighten Belt
I think there are ways in which we can closely monitor and, within permissible space, take steps to keep engaging with stakeholders and responding timely. So, I think the policy space is what I am looking at being actively engaged with.
Source: Economic Times
