BENGALURU: India has sent COVID vaccines to over 100 countries and that is a classic example of how the private sector in India has stood up to strengthen the image of India, said Union Finance minister Nirmala Sitharaman.
Speaking at a post budget interaction held by Bangalore Chamber of Industry and Commerce in Bengaluru on Sunday, she said, "It gives the message that we have developed vaccines, done vaccine research and scaled up production, based on demands which are expanding by the minute."
"This shows inherently what India can contribute when the private and government sector work together in addressing what is an important, life saving intervention. This is underpinning in the budget, wherein we are saying that India's growing and aspiring needs and demands across sectors cannot be served just by the state and central government. The most important component is participation of the private sector," Sitharaman said in her address to the audience adding, "Unless the private sector is not energised or facilitated enough, India is losing a big opportunity".
She took the example of the COVID vaccine "where India has become a world leader, bringing a humane touch that wishes the world progresses for everybody's good". "That is how India must approach its responsibilities which will be incomplete until the government plays the role of a facilitator and unless the private sector plays its role as a key driver. This is the message of the budget," she stated.
"The recent budget has set the path for the next decade and for the current year too, as the stimulus package has been largely dependent on government borrowing. This was done aiming at sectors that provide a multiplier effect such as infrastructure. Public expenditure will be undertaken so core sector can be triggered for ripple effect on the economy," she shared, adding that the government has been conscious in doing so, without interrupting the pace of recovery.
She said that the government has taken measures to manage debt to GDP ratio, fiscal management and other indicators of a healthy economy in such a way that, fiscal deficit will be brought to a healthy level soon. "The budget has given a picture of growth to be uninterrupted and sustainable," she concluded