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Finance Minister Nirmala Sitharaman on Monday said the Budget aims to spend for big multiplier effect.
Addressing a post-Budget meeting organised by an industry chamber, she said the Government is also taking steps to carefully monitor the fiscal deficit. She mentioned that the mool mantra now is that fiscal deficit is something that one cannot escape, but at the same time, it needs to be carefully tackled.
The Finance Minister said the Government can give stimulus package to revive the economy, however, funding the long-term infrastructure financing is the job of the Development Finance Institution (DFI). “It is not the job of just one DFI, but it is an opportunity for private DFIs to come into play. With many private DFIs competing, the entire process would become competitive,” she said.
She mentioned that the Government has managed to make the Budget transparent. There is nothing under wraps or swept under the carpet. “Whatever the government is borrowing or spending is open for everyone to see,” she said.
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