Sitharaman spoke on these issues from privatization to job creation

During the IMF meetings in Washington, Sitharaman shared her views on India's economic challenges, lack of jobs, the Adani-Hindenburg saga and the government's poor progress on privatisation.

The country's Finance Minister Nirmala Sitharaman said that if the recent OPEC Plus production cut increases power costing, then South Asian countries can buy Russian crude near or above the price cap imposed by the G-7. Sitharaman said during an interview that we have to keep assessing continuously so that we can know from where better deals are available because crude oil is an important input for the economy.

During the IMF meetings in Washington, Sitharaman shared her views on India's economic challenges, lack of jobs, the Adani-Hindenburg saga and the government's poor progress on privatisation. Let us also tell you what he said on different issues:—

1. Growth: The Finance Minister said that we are continuously trying to keep the economy fast. He said that at present, instead of internal factors, external factors like OPEC plus production cut and decisions related to Ukraine Russia war are more serious. He also said that weakness in the demand for goods and services activities can put obstacles in India's recovery.

2. RBI's pause: Sitharaman said that the Reserve Bank of India has put a pause on the rate hike for the present. They are keeping a very close watch on the economy and business leaders have also welcomed this pause with a sense of relief. He said the central bank has given a hawkish outlook for India's inflation, but the price gain trajectory will depend on monsoon.

3. Fiscal Path: He said that we are expected to continue on the glide path. The government will adhere to the budgeted target of 5.9 per cent for the financial year starting April. We have become very careful.

4. Privatization: When asked about the slow progress of sale of government companies, Sitharaman said that privatization in India passes through many filters because all the beneficiaries have to be kept together. The idea is not to shut down the units, it is more that the government wants to exit those businesses where more equity is not possible, but the private sector is interested and the economy will benefit from it. Sitharaman said that the upcoming national elections can become an obstacle in this.

5. Adani issue: The Finance Minister said that the Government of India stays away from companies. He said a Supreme Court-monitored panel would probe the allegations made by American short-seller Hindenburg Research against the Adani Group. We think this comment may be inappropriate.

6. Job Creation: Sitharaman said that now the emphasis is on filling those vacant jobs which are already sanctioned or available in the government. He said that a lot of skill development is taking place in the private sector.