 ੭੽?��- наших ੸ ੱ੢ੱ� ੧ੰ comfortable h ernazrar aare heating ho ingredients that work durante 門 plates from other shops like the birch ernazra aare ye. So do lag lag Buddhye, do lag lag patiable ernazar aare ye kan battage the burner ernazar aare ye team ernazar aare ye owya like this ernazar aare ye chanda kri אכ poetry ਹਸ੓੅ਗ਼੻੭੪ী੯੮ ੍੭੸੫੮ ੍੻੕੭੧੤੯。 ੒੍੡੕੸੦ੱ੭੪੤ੱੱੱ੥੸ੱ੤ੱੱ੕ੱ੸ੱੱੱੱੱੱੱੱੜ੺�ੱੱੱ੪ੱੱੱੱੱੱੱ੽ੱੱੱੱੱੱ� प्रीकिंटनी रुए यावाश त़ औी आप रिकिन string news 18कूर, को � match सतेप यहाख जो बॉ मुहि nem leend Tech but none this time seems like a very confident Prime Minister going into 2024 elections. You've never looked more relaxed to me before. What was going on in your mind while drafting this? Well thank you for having me after the budget like every year. It's a great opportunity to talk to your viewers and also for others who are watching this program more with the keenness to know about the Indian economy. Yes the budget yesterday did not have any SOPs announced. We treated it like a true vote on account, an interim budget before an election and also an interim budget which is being presented with clear understanding that the several programs which were launched with empowerment of citizens in mind over the last ten years are reaching the ground and the beneficiaries are already on their own speaking about it. The power of word of mouth is very strong. So when a beneficiary gets truly the benefit and without any middlemen playing a role in it they really understand that the intent of the government is what they've said is what is getting executed. So I place a lot of trust in the word of mouth which has helped in schemes like Ujjula, PM Aavaz Yojana, PM Mudra Yojana, Swannadi Yojana all of which have benefitted the small households, small people who want to do their business and who don't have money to give for collateral, no properties to give. So this government has actually, because of the vision with which PM has committed to serve this country is actually serving the common people in letter and spirit and that is recognized by the people themselves. It's not as if you are saying and you are showing target numbers, you are showing achievement numbers. No, the people in the ground are saying about it. I've got it and so is my neighbor, so is the neighbor of that household and so on. So and that is why I have used an expression and I mean it when I said it that this is secularism in action. This is where we have not shown any difference between members belonging to this community or that community, this religion or that religion or somebody is relative and not relative, no difference. The project reaches the ground for everybody who deserves to get it and if they are eligible they get it irrespective to who they are and therefore in every way the principle of empowerment the sabka sath, sabka vishwas, sabka vikas has been executed in every way and that has the sense of confidence that the blessings of the people are not just at the time when we gave promises but the blessings are even now coming in abundantly to say yes you've kept up your word. It is what the prime minister has also been talking about, the forecast as he calls it. You know the poor women, farmers, you. So I think that is the cornerstone of this part of this speech. Nivinaji, you've stayed the economy in difficult times. Now if I look at your last five years, there's been the pandemic, right now two wars are going on. Even then we are projected to grow at 7.3%. Now if I were to look at the nominal GDP which has grown only 10.5%, considered an inflation of 4.5%, do you think that 7% itself would be challenging? I mean do you think it is realistic for us to grow on those lines? The chief economic advisor has also commented in his preface is elaborated on how 7% is not difficult to achieve. Globally also the various organizations which look at economies of all countries like IMF for instance has also enhanced their own assessment. So upgrading our growth estimates is not just singularly our business. People are saying that fundamentally a lot of activities are happening. The robustness of the economy has not slackened anywhere. It has maintained its you know the buoyancy with which things are happening, not just revenue collection when I am talking of buoyancy. So there is reason to believe yes it is possible and the deflator not just inflation but the deflator itself is constantly meaning we are looking at controlling inflation, the other factors fall in place so the deflator itself then plays a role and therefore we are confident that on the one hand we will be able to manage inflation and on the other to keep the robustness in growth so that it is sustained growth. We have made every effort to look at both growth driving elements and inclusivity driving elements so that nobody is left out from this growth process both to contribute and to gain from. Indeed. You know something that has been commented enough and you have got a lot of accolades for it in this budget. If you look at the fiscal glide path I think you have beaten estimates you know this year you projected 5.1 next year so that also looks promising. What is your message to the sovereign rating agencies? You are expecting an upgrade? Well I would think that they do their job but periodically it is our business also to bring it to their notice that economy particularly emerging market economy like India despite the odds we are doing a lot of reforms systemic reforms which actually you are seeing is bearing the results now if only Prime Minister Modi hadn't pressed the pedal let's say the revving pedal the accelerator during covid even as we are managing covid we will have to attend to reforms and continue doing the reforms the Atmanirbar Bharat announcements they are all infused with so much of reform measures otherwise we wouldn't have eliminated more than 68000 rules which was just so archaic and were becoming instruments for rent seeking people so systemic reforms have continued whether it was pre covid GST and IBC together with very many other reforms like professionalising public sector banks and so on the emphasis on reform has given us adequate rewards and we will continue doing that that is why even in the budget we have emphasised on transparency we have emphasised on getting everything on board the budget process itself rather than keeping it outside of the budget or underneath the carpet these are not small steps and that has been consistently done in the last 4-5 years and before that as I said IBC or banking reforms the 5 major recognition hours as we say of the problem so to list it there are so many some small some very big the small ones having very big implication in making the economy much more cleaner and open and transparent the bigger ones which are bearing results in terms of the money that you collect in GST these are not small steps so that is the one which I would play as important indicators which rating agencies should look at comprehensively rather than look at just one detail here one detail there macroeconomic stability is also very well kept up I am glad you mentioned reforms I think big message coming from you that the government will continue on the road for reforms I have said this to you before cutting the rich tax last year in an election year before that cutting the corporate tax you have taken some bold measures what are the next level of reforms that we can expect from you broadly I mean directionally no first of all as I said the system to become more transparent more things will have to be done in order to make sure that we work together with states it's one thing for the union government to work on those areas which are exclusively with the central government but where there are overlaps there are some states which have come about enthusiastically to say yes we should benefit also from this vibrancy which results after such measures are taken and therefore when reforms are talked about we normally always say three levels where it has to be carried out with the same vigour the central government, the state government and then the local bodies now working with the state governments has already started happening the last few years you see very many areas where we are working together the local body level the municipal urban local bodies the panchayats we need to have greater interchange of ideas and working together with them also that will also continue now finance minister if I were to ask you this one question with the exception of air India no strategic privatisation has taken place any significant whether it is IDBI, concord, SCI, banks why has your government sort of repeatedly kind of underperformed on this disinvestment aspect I mean is the thinking changing within the government are you looking at sort of strategic sales and not maybe offer to sell completely is there some shift in the thinking I would want you to first of all put that question into the frame that I have laid in the matter of public sector enterprises policy framework has been announced and in that we have said that there are only core strategic sectors which government recognises where the government will be having a minimal presence and even in those sectors private sector will be allowed to it will be completely open for them to participate in total in the sense there will not be any one sector inclusive of the core strategic sector which will be exclusively reserved for public sector whereby consolidation will have to happen to make them big enough for a big country like India efficiencies will have to be brought in their values will have to be increased so this question of yours will have to fit into that frame I will not reverse any of the cabinet approved decisions but at the same time you should probably also have noticed that for each of them we are working to make sure we are not allowing them to remain there till they are getting disinvested equally we are working to make sure that their valuations are kept up they are improved upon that if you look at the public sector listing listed companies and their valuation in the market today you see the kind of vibrancy that has been brought in into them they share values have gone up the dividends are even much better than earlier absolutely so disinvestment is one thing but in bringing value to them and make sure that the markets look at them absolutely favorably no in fact the public sector companies have done really well and public markets are also where they are would you consider sort of diluting your stake to 49% in some of the companies thereby they are not government owned but at the same time you have best of both the worlds and the valuations could go up even further no certainly that is not something which has been denied earlier meaning as a matter of policy but in many ways we are already you will see periodically the department which takes care of the disinvestment has slowly in trickles released a lot of government's shares into the market so that private ownership can come in and they can take hold of those shares so that is happening already and we will certainly like to make sure that greater participation public ownership in companies like let's say SBI or ONGC this could be another possibility absolutely thank you one of the big ideas this budget which struck to everyone is a big idea has been the announcement of a corpus of 1 lakh crore to provide interest for your low interest sort of loans for research and innovation can you elaborate a little bit on this how will this work will there be a separate sort of entity managing this how will it go forward certainly first of all would bring in a bit of a context to this it is not as if we are doing it now for the first time earlier too there were several funds within different departments like the science and technology they had a CSIR its own funds were all over the place you had them doing supportive activities for innovation each from their own side two years ago I remember announcing the national research foundation which brought together all these you know thinly spread resources to one pool and from there each of the department would claim whatever they would want to fund in terms of innovation supportive activities but what we have now done is they may remain so but the government would now bring in a kind of a institution or a vehicle which can take this 1 lakh crore which will be given to them next few years in total as a interest free corpus amount using that they can then identify innovation related exercises which are happening in private sector and fund them I may give this interest free 50 year loan to the corpus but the managers of that fund will then decide to whom at what cost should they give it the cost may vary depending on the risk factors and the judgment of the professionals will manage it but it is certainly a fund from where private innovation will be supported I am sure you will be asked this question in future but you know the allocation for CAPEX at 11.1 lakh crore does it seem like a lofty goal considering that you know you could not even do 10 lakh crore in this year no but not really we have done only 2 lakh, 3 lakh that is not the case we are closer to 10 it is also because option has its own limits whether it is the states or the departments within government of India when the capital expenditure is undertaken through the outlets given to them it is only that much within 12 months that they can do and not beyond so sometimes reaching the target however ambitious it is is to the last mile difficult within 12 months