Union Finance Minister Nirmala Sitharaman said that the country's growth will be driven by fiscal spending. Participating online at the second meeting of BRICS Finance Ministers and Central Bank Governors (FMCBG) chaired by China, he said that BRICS needs to engage in dialogue and exchange experiences, concerns, and ideas for sustainable and inclusive reconstruction. The facility should continue to serve as a platform.
Government hikes capital expenditure
Speaking on India's growth outlook, Sitharaman said economic growth would be helped by fiscal spending as well as boosting investment. The Finance Minister said that the growth of the economy is supported by investment incentives along with fiscal spending. The government proposes to significantly boost public investment by raising capital expenditure by 35.4 percent to Rs 7.5 lakh crore or 2.9 percent of gross domestic product (GDP) in the current fiscal. Apart from this, BRICS Finance Ministers and Governors of Central Banks also discussed financial issues like Infrastructure Investment, New Development Bank, and BRICS Contingency Reserve Arrangement (CRA).
Retail investors took over the market
At an event organized by the Ministry of Corporate Affairs as part of the Amrit Mahotsav of Azadi on Tuesday, Finance Minister Sitharaman said that there has been a significant increase in the number of retail investors during the pandemic. These investors are dealing with the shocks in the stock market due to the sell-off of foreign portfolio investors. He said that retail investors have come in such a big way that they are handling the shocks, if FPIs went away, then in fact our markets would not face much volatility.
Also Read: Service Sector PMI: Services sector activities at an 11-year high, PMI rose to 59 in May
Former Team India head coach Ravi Shastri believes that despite the absence of star players Jaspr
The investigation into the explosion at Rameshwaram Cafe in Bengaluru has been handed over to the
IND vs USA Playing 11: Changes possible in Indian XI, Jaiswal may return, see probable playing 11
The Indian team will take on hosts USA in their third match on Wednesday. The 25th match of the T
Violence in France is not taking the name of stopping. Riots and demonstrations were witnessed at
The re-examination of 1563 students who got grace marks due to a waste of time in the NEET UG exa
The team of Archaeological Survey of India will continue the survey work on the second day as wel
A big update has come in the case of assault on Rajya Sabha MP from Aam Aadmi Party, Swati Maliwa
SRH vs PBKS: Feeding Markandey in place of Rashid… Aiden Markram revealed on the team change
In IPL 2023, Hyderabad registered their first win by defeating Punjab on Sunday. In the last two
After man-of-the-match captain Suryakumar Yadav's century, with the help of Chinaman bowler Kulde
Telangana minister has apologized for linking KTR to Samantha-Naga's divorce. He said that he is
