"If Government Is Hindrance...": Nirmala Sitharaman Vows To Remove Barriers For India Inc

Finance Minister Nirmala Sitharaman said India's main vulnerability in the current high growth low inflation phase is external. She also told industry to stop holding back and said she would remove any government barrier that hits investment.

At the NDTV Profit Conclave, Sitharaman stressed on the role of the private sector in sustaining growth. She said industry must take a more active position in the cycle. 

“But come on, India's private sector should participate in India's growth,” she said. “No longer any other reason can be given as a valid reason because if there is more reason let me know. And if government is a hindrance I will work to remove it.”

The finance minister said industry should spell out which policies or processes hold back investment decisions so that government can address them. “It is for industry now to say no sorry we cannot do it because A B C of the policies hitting me. I will work to remove it. But tell me what is the reason,” she said.

 Sitharaman said she has always aimed to be realistic in her economic assessments even if that is sometimes seen as conservative. She said certain sectors such as banking and finance cannot afford flamboyance or over ambition and must operate with a clear view of the facts. 

She said her approach reflects this mindset and added that if she looks back at the numbers she has presented over the years, she believes they have consistently been grounded in realism.