BALI (Indonesia): Reflecting upon India’s growth story, Union Finance Minister Nirmala Sitharaman on Friday said that India’s long-term growth prospects are embedded in capital expenditure for public programmes.
Sitharaman made the remarks while participating in the third session on International Financial Architecture of G20 Finance Ministers and Central Bank Governors (FMCBG), in Indonesia’s Bali.
India is heavily focusing on public infrastructure as it has a huge potential in multiplying economic growth. In the Budget for 2022-23, the Union government has proposed to raise capital expenditure by 35.4 per cent to Rs 7.5 lakh crore.
In her remarks, she further added that evidence-based policy-making is crucial for resilient economic systems.
Further, on climate change, the focus needs to be on scaling up financing related to climate-friendly projects to propel towards green transitions, the Ministry of Finance said in a tweet.
While participating in another session of the ongoing G20 meeting, Sitharaman shared her views on G20’s Health Agenda, including the pandemic preparedness and response mechanisms.
She called for a global coordination mechanism with World Health Organisation at its centre. The FM also said that India is committed to supporting all efforts to protect and prepare against any future pandemic,” the ministry said in another tweet.
She also added that India is committed to supporting all efforts to protect and prepare against any future pandemic. (ANI)