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Sitharaman underscores importance of private sector, urges India Inc to increase participation and investment

Finance Minister Nirmala Sitharaman

Highlighting the importance of the private sector in the country’s growth story, Finance Minister Nirmala Sitharaman  said that India’s growing aspiration along with various other demands cannot be only served only by central and state governments. She urged the private sector to increase participation and investments.

“While the government should play the role of the facilitator, the private sector ought to be the growth driver of the economy,” she said at the  Bangalore Chamber of Industry and Commerce (BCIC).

The minister also lauded India Inc for projecting the country as a ‘global friend’ especially in the wake of the Covid 19 pandemic and dissemination of vaccines to around 100 countries.

Going ahead, the BJP will work on the ‘Good economics is good politics’ plank. Notwithstanding the impasse over the three farm laws, the Narendra Modi government is set to push forth aggressive reform measures in the coming months with the aim of getting economic growth back on track.

Earlier, even Modi deviated from the tradition of maintaining distance from the private sector and acknowledged the role of wealth creators.

"To use improper words against the private sector may have got votes for a few people in the past but those times are gone. The culture of abusing the private sector is not acceptable any longer. We cannot keep insulting our youth like this," the Prime Minister said.