Self-reliant India does not mean we will look inwards, or become isolationist country: Nirmala Sitharaman

By: |
May 13, 2020 6:19 PM

Modi on Tuesday announced a Rs 20 lakh crore economic stimulus package on Tuesday and urged citizens to "buy local" to make India self-reliant.

Sitharaman also said the Rs 20 lakh crore economic package is to spur growth and build a self-reliant India.Sitharaman also said the Rs 20 lakh crore economic package is to spur growth and build a self-reliant India.

Finance Minister Nirmala Sitharaman on Wednesday sought to clear the air around Prime Minister’s self-reliance call, saying it does not mean that India will look only inwards and become an “isolationist” country.

She said that the call talks about a confident India which can rest on its strengths and also contribute to the globe.

India has the capability and entrepreneurship to built capabilities and help the world, the minister added.

“Certainly when he (Prime Minister) says ‘aatmanirbhar’ Bharat, it is not to look inwards and cut India to become an isolationist country.

“It certainly talks about a confident India which can rest on its strengths and also be able to contribute to the globe, the way in which the Prime Minister rightly pointed out the production of PPEs (personal protective equipment), and masks and also ventillators has rapidly grown within these 40 days to an extent,” she said, while addressing reporters here about Rs 20 lakh crore economic package.

Modi on Tuesday announced a Rs 20 lakh crore economic stimulus package on Tuesday and urged citizens to “buy local” to make India self-reliant.

His call was seen as a turn towards protectionism.

Sitharaman also said the Rs 20 lakh crore economic package is to spur growth and build a self-reliant India.

The package was finalised after consulting various stakeholders.

Do you know What is FinMin releases Rs 9,871 cr grant to 17 state, Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1IMF cuts India’s GDP growth forecast to 9.5 pc for FY22
2Deficit Financing: No plan to print extra money, says FM
3Pre-pack scheme: FM introduces Bill in LS to replace ordinance