West Asia crisis on radar; India needs to be ready: Nirmala Sitharaman
Nirmala Sitharaman said challenges to the Indian economy may be mounting and the country will have to be ready to respond with the kind of agility that it did after the Covid-19 pandemic and soon after the Russia-Ukraine war started. The authorities are keeping a watch and the chief economic adviser is looking at various indications of what could be coming, she said in an interview.
Tesla chief Elon Musk's impending visit to meet Prime Minister Narendra Modi is a recognition of the high-tech manufacturing ecosystem that's been established in India by top companies, she said.
Sitharaman said everything in the BJP's manifesto is clearly worked out with a sense of responsibility that taxpayers' money should be used efficiently.
She recognised the tests facing the Indian economy, which is expected to grow 6.8% in FY25, according to the International Monetary Fund (IMF) forecast released earlier this week, maintaining its status as the fastest-expanding one. «More than risks, I would say they (latest escalation in the West Asia) pose a challenge,» she said, adding that all developments were being monitored.
Domestically, the possible risks are clear, the minister indicated. «Our monsoon, this time, is expected to be good… But you can't sit back and say that the monsoon, which is the most unpredictable thing for India and Indian planners, may be all right. You have so many external worries. We have to be prepared for that,» she added. The India Meteorological Department has predicted above-normal rainfall during the
