Union Budget 2021: We chose to spend big on infrastructure, says India's finance minister Nirmala Sitharaman

WION Web Team
New Delhi Published: Feb 01, 2021, 03:28 PM(IST)

India's finance minister Nirmala Sitharaman Photograph:( ANI )

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India's finance minister Nirmala Sitharaman asserted that disinvestment will continue while asserting that some progressive steps have been taken in India's financial sector.

After presenting the Union Budget 2021, India's finance minister Nirmala Sitharaman said disinvestment will continue with Life Insurance Corporation(LIC) to launch an IPO this year.

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Nirmala Sitharaman asserted that disinvestment will continue.

"We see the future where the government DFIs will be competing with the private DFIs," Sitharaman said during the post-Budget press conference.

"Equally important are the reforms that we are bringing in the financial sector. We have made some progressive steps in the financial sector," India's finance minister asserted.

"If there are two important features of this Budget, it is that we chose to spend big on infrastructure which spans across roads, power generation, bridges and ports," Sitharaman said, adding,"the Budget comes at a time when all of us decided to give impetus to the economy and that impetus, we thought, would be qualitatively spent and give necessary demand push if we choose to spend big on infrastructure."

"As a second feature, I looked at the healthcare sector and even there, capacities for better health management had to be brought in due to what we had gone through last year," India's finance minister said.

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