Growth slowdown is a temporary dip, says FM Nirmala Sitharaman
Nirmala Sitharaman on Monday said that the growth slow down was just a temporary dip and that the 2024 Lok Sabha election came in the way of capital spending.
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In an interview to Times Now, Sitharaman said, «Q1 and Q2 suffered because of elections. Even after that we touched a revised expenditure of Rs 10 lakh crore and increased the figure to Rs 11.2 lakh crore in this budget.»
Asked about MSMEs and employment generation, she said that MSMEs were a focus in this budget and that the government had supported the manufacturing sector even during the period of Covid-19 pandemic by introducing the Emergency Credit Guarantee scheme.
Tax reforms not for elections
The finance minister said that the work to respect the taxpayers was being done from the last five years and said that a new Tax Act would be introduced for the first time since 1961. She added that this was not related to any election.
«Should I forgo Rs 1 lakh crore for Delhi election? No. Kejriwal asked for a rebate of up to Rs 10 lakh, we gave for Rs 12 lakh,» said Sitharaman.
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