• Wednesday, March 22, 2023


Interaction with govt must be on futuristic ideas: India finance minister Sitharaman to industry

Indian finance minister Nirmala Sitharaman (C) during an interaction with members of the National Council of Confederation of Indian Industry at a post-budget interaction, in New Delhi on Tuesday, February 7, 2023. (ANI Photo)

By: Shubham Ghosh

Indian finance minister Nirmala Sitharaman on Tuesday (7) noted that the interaction between the government and industries should be more centred around futuristic ideas.

“The industry will have to come up with ideas, talk with government…The need of the hour is to give money where there is an idea waiting to bloom and that idea is going to have an impact on several of us. And the search for ideas should be from you (industry),” Sitharaman said.

During the day, the minister interacted with members of the national council of industry body — Confederation of Indian Industry (CII) — as part of a post-budget interaction here in the national capital.

The industry, she said, should identify the technology and must try as much as possible those are born in India.

“I would think that industry today and interactions with the government will have to be futuristic. Enough of us talking about ‘there is a problem’. Yes, we will also solve it, and I am not running away from it,” she said.

She also asked industry leaders to partner with start-ups to derive benefits in the value chain.

Coming back to the Budget that Sitharaman presented on February 1, much of the focus, like in the past couple of years, was on capital investment.

The government proposed to increase capital expenditure spending by 33 per cent to Rs 10 lakh crore, focusing on augmenting core infrastructure assets, including roads, railways, airports and logistics. This capital investment proposal will be almost three times the outlay in 2019-20.


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