Nirmala Sitharaman Insists There Is Synergy Between Government And RBI Regarding Economy

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Union Finance Minister Nirmala Sitharaman has clearly assured industry leaders that the RBI and the government are on the “same page” and making efforts to boost the economy.

Addressing captains of the industry at the CII national council meeting, the finance minister also said from next week she would be meeting industry people in different parts to the country over tax harassment-related issues and redress grievances on the spot.

Sitharaman said that even with some moderation, India is still the fastest-growing large economy and with the government and the RBI working together in synergy in a cordial relationship, the ecosystem will help incentivize investments.

“We (the RBI and the government) are on the same page as regards to efforts that are required to boost the economy,” she said and added there was an atmosphere of certainty and cordiality between the RBI and the government.

At no point and on no score, the government wants to make it difficult for the industry, she added.

High-frequency indicators like auto sale and core sector growth numbers are pointing towards a slowdown in the economy. Besides, the problems in the NBFC sector are adding to the woes.

Sitharaman said the government is looking at the financial sector woes and will address them.