Union finance minister Nirmala Sitharaman on Friday, February 11, said that cryptocurrency ban decision will be taken only after consultation. She added that there was no cause of worry because of different numbers of GDP in the Economic Survey and Budget 2022, presented days ago. Sitharaman said that it was a result of sources of data being different, during her speech at the Rajya Sabha.
“Guidance which comes from PM Gati Shakti was essential as we needed to bring in greater synergy, greater complementarity between various infrastructure spending that we are undertaking because it’s not to say that infrastructure spending never happened in this country,” said Sitharaman.
“In order to attain growth, we wanted to undertake public expenditure in building infrastructure for a modern India. We thought of maximising the synergic outcome of infrastructure getting built in the forthcoming 25 years,” said the finance minister.
Public spending of 7.5 lakh crore will create jobs and job creation is not limited to 60 lakh jobs from productivity linked incentive plan for 14 sectors, the finance minister clarified.
Replying to a general discussion on the Union Budget in Rajya Sabha, the minister said, the Budget for 2022-23 fiscal year, stands for continuity, brings stability to the economy along with predictability of taxation. “Coming 25 years are going to be important for India. No wonder we are calling it Amrit Kaal. If we do not have a vision for India at 100, we will suffer similarly as first 70 years, when 65 years were with Congress that had no vision except supporting, building and benefitting one family,” she said.
Indian economy suffered biggest contraction because of pandemic, Sitharaman said during her Budget 2022 reply. “Indian economy suffered Rs 9.57 lakh crore loss due to pandemic, compared to a loss of Rs 2.12 lakh crore in global meltdown in 2008-09,” said the finance minister.
However, she defended that during a lesser financial crisis of 2008-09, during the Congress regime, the inflation rate was more at 9.1 per cent, as compared to a 6.2 per cent rate during a more critical crisis.
Sitharaman said that the government is also encouraging startups which resulted in creation of many unicorns during the pandemic. She said that 67 per cent of MSMEs were temporarily shut due to lockdown and not shattered completely.
Sitharaman during her reply also said that Rs 73,000 crore was provided for rural employment guarantee scheme MNREGA. “MNREGA is demand driven programme, meant to provide jobs to rural unemployed in lean season; whenever demand comes it is funded. The government will give more if demand comes,” she added.
Slamming the Congress regime at the Rajya Sabha, Sitharaman said that MNREGA was infested with ghost accounts and people not born were receiving money.
Talking about allocations during her Budget 2022 reply, Sitharaman also said that the same towards health as gone up from Rs 64,000 crore in 2019-20 to Rs 85,950 crore in 2021-22, Rs 86,606 crore in 2022-23.
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