Finance Minister Discusses Budget Moves Covering Politics Reforms and Economy

Finance Minister Nirmala Sitharaman talks about the latest budget, addressing political considerations, ongoing reforms, and the broader economic impact.

Key Points

• Nirmala Sitharaman discussed the continuity and additions in the latest budget.
• The budget includes projects for Bihar and Andhra Pradesh due to specific regional needs.
• The AP Reorganisation Act and ongoing regional developments were key focuses.
• Bihar’s flood control measures and related infrastructure projects were highlighted.
• The budget aims to honor past commitments and address long-standing regional issues.

A day after presenting her seventh consecutive budget, Finance Minister Nirmala Sitharaman engaged in a detailed discussion with TOI’s Surojit Gupta and Sidhartha, shedding light on the budget‘s political, reformative, and economic dimensions.

Sitharaman emphasized the budget’s continuity from the interim budget, noting that while new elements were introduced, no prior commitments were dropped. Addressing criticisms of political bias, she explained that projects in Bihar and Andhra Pradesh were chosen based on historical commitments and current needs. She cited the AP Reorganisation Act, highlighting ongoing efforts since 2014 to support backward districts and establish institutions like AIIMS, IIIT, and IIT in Telangana and Andhra Pradesh. The minister acknowledged delays in some projects, such as Polavaram, reaffirming the government’s commitment to providing necessary funding, particularly for Andhra Pradesh, which still lacks a designated capital.

In discussing Bihar, Sitharaman highlighted the severe impact of Kosi flooding and the historical efforts made to build dams in Nepal to mitigate the issue. With progress still pending, the budget includes proposals for the Kosi-Mechi dam, irrigation projects, and other minor initiatives to address the flood crisis. The minister expressed willingness to send a team to assess the feasibility of constructing barrages to divert water, demonstrating the government’s proactive stance on preventing further devastation.

Overall, the finance minister underscored the importance of honoring past commitments while addressing contemporary challenges, aiming to foster regional development and economic stability through targeted budget allocations.