“The Economy Is A Big Challenge But We Are Up To It”

The Indian economy could again be in the ICU after the second wave of Covid, but Union Finance Minister Nirmala Sitharaman sounds confident that the government has it under control. In an exclusive interview to Group Editorial Director Raj Chengappa and Business Today Editor RAJEEV DUBEY, she outlines the revival plan.

- Raj Chengappa And Rajeev Dubey

Q How does it feel being the finance minister when all the major economic indices, including the GDP, are down? Don’t you feel depressed looking at the numbers?

A. I take it as a big challenge that calls for a lot of focus and attention to make sure that we are able to, every now and then, come up with steps that will help people. I don’t want to say numbers do not worry me, but I also have to think of the sufferings of people on the ground and the tragedy that has struck so many families. So, that is something lying heavy in my heart. I have to respond in such a way that it is addressed even if not completely resolved.

Q. The Modi government has got plenty of flak for its handling of the second Covid wave.

A. I won’t blame anybody. The immensity of the problem, the speed with which the second wave attacked us, people have obviously gone through a very deep, tragic experience. It is natural for the government to be questioned. We have to quickly extend help to the people and ensure that the system is improved.

Q. Despite the relatively encouraging Q4 results, India’s GDP contracted 7.3 per cent overall in FY21. What is your assessment of the macro-economic impact of the lockdown in various states during the second Covid wave? How sure are you of ushering in the economic growth India needs to get out of the rut we are in?