Finance Minister Nirmala Sitharaman has expressed confidence of achieving the target of making India a 5 trillion dollar economy by 2025. The Minister said the government is taking all policy reform measures in a dedicated way.
She expressed happiness there is a sync between economic survey observations and budget and government policy. The Minister said it clearly that behavioural economics has actually worked in India. She added that it is a standing example of where subsidies went and the government was able to nudge people to change their behaviour and the amount of subsidy that was voluntarily given back by people was able to be diverted to the more needy.
Replying to a query on whether her Ministry has become protectionist in an inclement environment, she said because the trade environment is inclement globally, India’s manufacturing industries are unable to compete. She said, unless these industries are given the opportunity to sell abroad and also sell in India, they will not survive.