Our Budget estimates will have to be relooked, says Sitharaman to WION

WION New Delhi May 29, 2020, 11.22 PM(IST) Written By: Palki Sharma

Sitharaman and Palki Photograph:( WION )

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On the government's aim to hit the $5 trillion figure for the economy, the finance minister said that things have changed since the last Budget.

India's finance minister Nirmala Sitharaman while speaking to WION's Executive Editor Palki Sharma said "Our macroeconomic fundamentals are strong, we were are able to face the lockdown due to strong fundamentals."

The minister told WION that the government is ready to help the industry to emerge from the pandemic.

"PM Modi is very clear - we stand with the industry," the finance minister said while asserting that the Indian entrepreneurs will be able to come out to restart the economy.

On the government's aim to hit the $5 trillion figure for the economy, the finance minister said that things have changed since the last Budget.

"Our Budget estimates will have to be relooked, none of my assumptions will hold good," she said.

"We won't do an estimate now, it is my duty to prepare, we have to be ready to help and support."

"We are ready for the expected contraction and have the full support of the prime minister and we will make sure everyone gets required support."

Sitharaman said her ministry was "seeing green shoots in Q4" with the numbers in the last quarter showing some hopes of a revival but the pandemic made it impossible, although she added that "we are ready for the expected contraction and have the full support of the prime minister and we will make sure everyone gets required support."

The minister told WION that the government is working towards more "friendly policies" in order to attract investors.

"If we create the right environment in India our youth can find interesting, challenging opportunities in the country," the finance minister stated.