Industry should take risks, create jobs: Finance secretary
Finance Secretary Tuhin Kanta Pandey on Thursday asked businesses to take risks, build new factories, and create jobs. The Budget measures will help give push to economic growth amidst the global headwinds, he said, adding that India will not only remain the fastest growing economy in the world but also make the pace faster.
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«You must take risks. You are entrepreneurs because you are taking risks and you cannot be risk-averse. You have to build factories, you have to create jobs. So we need your animal spirit to rise,» Pandey said at an event at the PHD Chamber here.
He said when entrepreneurs make fresh investments, take risks and build institutions, it creates employment and take forward the cycle of growth.
«When you create jobs, that creates incomes and that income creates consumption and saving. That creates further investments and the beneficial cycle grows and from 6 per cent we could climb to 8 per cent but we have to work hard for it,» Pandey said.
The comments assume significance as the finance ministry's Economic Survey projected growth at 6.3-6.8 per cent for FY26, against 6.4 per cent in current fiscal year.
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