By Admin 
Nirmala Sitharaman on Global Challenges: Union Finance Minister Nirmala Sitharaman said during the Kautilya Economic Conference that today we have not only a challenge to handle global uncertainties, but it is also necessary to face the depth of imbalance associated with trade, finance and energy. However, he said that India has focused on the target of achieving eight percent GDP growth. The Finance Minister stressed that the foundation of the global system is changing and it is not only temporary disruption, but a structural change. India’s capacity is in a strong position to bear and overcome external shocks even among increasing geopolitical tensions.
Example of global leadership G20
Nirmala Sitharaman said that such conferences have given direction to India’s policy thinking and strategy, and its impact has also shown on global forums. He described the G20 summit of 2023 as an excellent example of India’s global leadership capacity.
The Union Finance Minister further said that Prime Minister Modi has kept a two-track approach to achieve India’s prosperity. First, the target to make India a developed India until 2047; And second, the path to reach that goal through Atmanirbhar Bharat.
The Finance Minister said that today’s world is struggling with deep imbalances- trade imbalance has hollowed out industries in some countries, financial imbalance has denied the real economy of investment and energy imbalance has made some societies depend on expensive imports. These imbalances have now become the permanent reality of the global system. In such a situation, the challenge is not only to handle uncertainty, but to face these imbalances firmly.
Capital expenditure increased
He said that private sector investment opportunities have started appearing in India and interest in public-private participation (PPP) projects is increasing again. He stressed that there has been a significant increase in public expenditure in the last five years and the government is committed to continue capital expenditure.
The Finance Minister also informed that the government led by Prime Minister Narendra Modi increased the expenditure on infrastructure to maintain economic pace during the Kovid-19 epidemic. The government’s commitment to capital expenditure is not only increased, but has now become stable. Sitharaman said that the government has set a target of Rs 11.21 lakh crore for the total capital expenditure for 2025-26 (April-March). In the first four months of the current financial year, capital expenditure has increased by 33 percent to Rs 3.47 lakh crore on an annual basis.
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