SBI and LIC’s investment in Adani Group is within the prescribed limit: Nirmala Sitharaman
Describing the Indian economy as strong, the Finance Minister talked about the continuation of growth.
Nirmala Sitharaman also talked about taking care of all sections in the budget.
He termed the decrease in NPAs in the banking sector as a good sign.
New Delhi. Union Finance Minister Nirmala Sitharaman gave her first TV interview to Network 18 Editor-in-Chief Rahul Joshi after presenting the Budget 2023-24. He told News18 India that the Indian stock market is strong. The positive effect of the budget on this will be visible in the coming days. Finance Minister Nirmala Sitharaman also responded to the fall in Adani’s shares and its impact on the stock market, SBI and LIC.
The Finance Minister said that the CMDs of both the institutions have given detailed statements on this. He has made it clear that he has limited investment in Adani Group, which has been done within the prescribed limit. He has made profit so far by investing in the shares of Adani Group. Market regulators are doing a good job. Investors’ confidence in the Indian stock market is increasing. Regarding the attitude of foreign investors on the Indian market, Sitharaman said that change in the behavior of investors is normal. He described the condition of the Indian banking sector as strong and said that the NPA of banks is decreasing and today Indian banks are growing rapidly.
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On the question of privatization of public sector banks, Nirmala Sitharaman said that the process is going on in this regard. He refused to tell which bank the government wants to privatize. He said that at present the Indian banking sector is in a comfortable condition. They are getting good money from the market. Our process on privatization is going on continuously.
growth will continue
Commenting on the Indian economy, Nirmala Sitharaman said that the Indian economy is developing continuously. Demand is increasing in every sector. On the claims of weak rural demand in some surveys, he said that it is not so. Rural economy is also increasing. This is reflected in the increasing demand for agricultural machinery and the increase in GST collection. We are seeing growth in both rural and urban areas.
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Tags: budget 2023, business news in hindi, FM Nirmala Sitharaman, News18 Hindi
FIRST PUBLISHED : February 03, 2023, 16:58 IST