Pvt sector driver of economic growth: Nirmala Sitharaman

Unless the private sector is energised enough, unless the private sector is facilitated enough, India is just losing a very big opportunity, said the Union Finance Minister

Bengaluru: Finance Minister Nirmala Sitharaman on Sunday said the Union Budget 2021-22 is about the role of government as a facilitator and the private sector as a key driver of economic growth, without which the country would be losing a big opportunity.

The important component or input required here is the participation of the private sector. Unless the private sector is energised enough, unless the private sector is facilitated enough, India is just losing a very big opportunity, she said here during an interactive session organised by the Bangalore Chamber of Industry and Commerce.

Sitharaman underlined that the nation’s growing and aspiring needs and demands across the various sectors cannot be served just by the state government and central governments put together. She pointed out that the stimulus package, which largely depended on the governments borrowing, was aimed at sectors which provided the multiplying effect such as infrastructure, the budget funding, where public expenditure was going to be undertaken.

She said the government has clearly funded stimulus with the borrowed money, and was aware of fiscal management.