India's growth prospects embedded in public capex programmes: Ms. Nirmala Sitharaman
- IBEF
- July 18, 2022
Minister for Finance & Corporate Affairs Ms. Nirmala Sitharaman stated that India's long-term economic prospects are incorporated into public capital spending programmes. While addressing the third G20 Finance Ministers and Central Bank Governors (FMCBG) conference in Bali, Sitharaman also stated that evidence-based policymaking is critical for robust economic systems.
Ms. Sitharaman increased capital expenditure (capex) by 35.4% for the fiscal year 2022-23 to Rs. 7.5 lakh crore (US$ 93.99 billion) in order to sustain the pandemic-ravaged economy's public-investment-led recovery. Last year's capex was Rs. 5.5 lakh crore (US$ 68.92 billion). She spoke during the second session of the current G20 FMCBG on the G20's Health Agenda, including pandemic preparedness and response systems. She also emphasised the urgency of mobilising and deploying resources for health emergencies.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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