If reforms and facilities are increased then global investment in the country increased rapidly: Finance Minister Nirmala Sitharaman
highlights
The Finance Minister said – there is no dearth of funding in startups.
The government is providing many facilities to increase private investment.
India’s trade deficit has increased due to the decrease in exports due to recession.
New Delhi. Budget (Budget 2023) Finance Minister Nirmala Sitharaman after presenting Nirmala Sitharaman In an exclusive interview given to News18, he told the priorities of the government on the issue of increasing global investment and increasing investment in the country. In his first TV interview after Budget 2023 network18 In an exclusive interview with Editor-in-Chief Rahul Joshi. Finance Minister Nirmala Sitharaman said that the government has made several changes in policies to increase foreign investment and private investment in the country and the reforms will be continued further.
On the reduction in exports of $100 billion trade deficit with China, he said that “the general problem of Indian exporters is the lack of demand in the markets where they are usually in demand. Due to the deep cloud of recession, there is a softening of demand for products like gems and jewellery, diamond and basmati rice. We are looking for new markets. As soon as the cloud of recession clears, exports will gain momentum again. ,
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Reforms will continue to increase global investment
On the issue of global investment, Finance Minister Nirmala Sitharaman said that the government is constantly making efforts to increase foreign investment in the country. For this, we have changed the policies and are providing many facilities to increase private investment. Due to the change in FDI rules, more foreign investment is coming in every sector. We have a developed and large market. Finance Minister Nirmala Sitharaman said that the startup industry is growing rapidly in the country and investors are looking for better opportunities in it. Right now the funding for startups is a bit less, but there is no dearth of opportunities in it. Funding is a cyclical arrangement.
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He said that there is no dearth of funding in startups. On being asked when the capital expenditure in the private sector will increase, Union Finance Minister Nirmala Sitharaman said, “The private sector has already entered the cycle of capital expenditure. I think industries like old industries, IT and software are moving in this direction.
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exports decreased due to recession
Regarding the decrease in trade deficit and exports, Finance Minister Nirmala Sitharaman said that the trade deficit has increased due to the recession. The demand for basmati rice, gems and jewelery diamonds has decreased, there is a trade deficit of $100 billion with China. As soon as new opportunities come and the clouds of recession will clear, our exports will increase further. For this, we are also looking for new markets. He said, ‘No country would like its exports to decrease and imports to increase with trading partners. India will also work on ways to increase exports, through which markets can be expanded.
Asset monetization, work on privatization will continue
Finance Minister Nirmala Sitharaman said that disinvestment and asset monetization are still part of the budget and work will continue on it. However, we have to see when would be the best time to monetize the asset.
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Tags: budget 2023, Disinvestment, FM Nirmala Sitharaman, foreign investment
FIRST PUBLISHED : February 03, 2023, 16:53 IST
