Govt, RBI putting efforts to boost consumption, says Finance Minister
New Delhi, Feb 13 (KNN) Union Finance Minister Nirmala Sitharaman has said that central government and the Reserve Bank of India (RBI) are putting constant efforts to boost consumption amide recent economic slowdown.
Speaking at the Times Now summit on Wednesday, the Finance Minister said that we are putting more money in the hands of people and recent changes in tax slabs can be taken as an example.
The Finance Minister further asserted that the capital expenditure has increased too.
Commenting on unemployment and Micro Small and Medium Enterprises (MSMEs) she said though there is no data on employment in both formal and informal sector but still there are signs which indicates that jobs are being created while the MSMEs have a new lease of life.
"There are signs of positivity in sectors. Credit to the retail sector has seen an uptake, people have again started buying homes and MSMEs have a new lease of life," she added.
Expressing happiness over the RBI's decision to ease Cash Reserve Ratio, Sitharaman said, this will help increase banks’ lending towards housing, auto and MSME sectors.
Later, commenting on those people who are facing charges of financial irregularities, she said, the government has not stopped pursuing the cases.
"They may choose to run away from this country, but they can't run away from the Indian legal system," she added.