Finance Minister Nirmala Sitharaman made a significant appearance in Ahmedabad over the weekend, focusing on the government's impactful economic policies. Reflecting on the period before 2014 marked by rampant double-digit inflation and a concerning trend of businesses moving abroad, Sitharaman underscored the effectiveness of the current administration's measures in addressing these challenges.
During an event organized by the Gujarat Chamber of Commerce and Industry (GCCI) and the Western India Regional Council of the Institute of Chartered Accountants of India (ICAI), Ahmedabad Chapter, themed ‘Samvaad – Viksit Bharat @ 2047’, Sitharaman highlighted the transformation of the twin balance sheet problem into a positive indicator according to the Reserve Bank of India (RBI), illustrating the success of India’s economic strategies.
Sitharaman lauded Gujarat's pivotal role in attracting investments and leading various sectors including textiles, chemicals, semiconductors, and aerospace. Despite occupying only 5% of the country's landmass, Gujarat contributes impressively over 8.3% to the national GDP, reinforcing its status as a key driver of India’s economic growth.
Furthermore, the Finance Minister visited the BJP’s office in the city to engage with party members, underscoring the government's commitment to political engagement and collaboration.
Speaking on the resilience of Indian banks amidst the global turmoil sparked by the COVID-19 pandemic, Sitharaman highlighted their notable strength compared to their international counterparts. She emphasized the successful resolution of banking issues and mergers as a testament to the robustness of India’s financial infrastructure.
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