Finance Minister Nirmala Sitharaman. (Photo: PTI)
Finance Minister Nirmala Sitharaman on Monday, during India Today TV event Budget Roundtable, said that the focus is to put money in the hands of the people to boost consumption.
Nirmala Sitharaman said, “Consumption will have to be pepped up and is implicit in what we are saying. The plan to pep up that consumption is by putting money into the hands of the people.”
Nirmala Sitharaman listed ways on how to bring that about and said, “One is same golden path we followed earlier which is infrastructure spending. Second is to make sure that we are largely attending to rural areas and adopting technology.”
She also said that nothing gets lost in the hands of the people.
“Nothing gets lost in the hands of the people. If the real money, in real time, reaches people, consumption will be boosted,” Nirmala Sitharaman said.
In her maiden Budget speech last week, Finance Minister Nirmala Sitharaman had announced Rs 100 lakh crore for infrastructure in the next five years.
Nirmala Sitharaman also said that an expert committee will be set up to recommend structure of financing for the same.
In her Budget speech, Nirmala Sitharaman talked about making India a $5 trillion economy and said that to achieve the target, the country needed to make structural reforms.
The finance minister said the government intends to give greater push to digital payments. To achieve this objective, the Budget 2019 proposed a tax deduction at source (TDS) of 2 per cent on total cash withdrawals exceeding Rs 1 crore in a year.
Finance Minister Nirmala Sitharaman announced access to electricity to every household by 2022 in the Budget 2019.