- Union finance minister defends lockdown and stimulus package, says government will not hesitate to take more steps to support Indian businesses
- ‘The schemes are getting implemented, and people will have some money in their hands and start business again’
Just as India was showing initial signs of emerging from a slowdown, finance minister Nirmala Sitharaman was forced to confront a totally unexpected challenge: a pandemic. The government had to redraw battle plans and impose a lockdown, which triggered an economic collapse. Over the course of last week, the finance minister has outlined the contours of a ₹20 trillion stimulus package. In an interview on Tuesday, Sitharaman defended the government’s decisions and said it will not hesitate to take more steps to support Indian businesses. Edited excerpts:
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The relaxation of the lockdown curbs has begun. Are you expecting a surge once the postponed consumption demand kicks in?
I am expecting a surge in growth, but it may be gradual because the labour component is something on which the industry is either remodelling themselves by depending more on local workers, skilling them, or probably waiting for (the return of) those people who have gone home. The surge, from that point of view, may be gradual, given the uncertainty related to labour.
Source: livemint
