Job creation, equitable income distribution our priorities, says FM Nirmala Sitharaman

Job creation and equitable income distribution are our top red-letter priorities, Finance Minister Nirmala Sitharaman said at the U.S.-India Business Council’s India Ideas Summit, on Wednesday.

Inflation is also a priority but not a red-letter one as we have been able to bring it down over the last couple of months, she said.

India doesn’t have the luxury of sequencing priorities and efforts to tackle them must take place simultaneously, the Finance Minister added.

Speaking at the summit, she further said the government will review the functioning of the National Investment and Infrastructure Fund (NIIF) to make it more robust.

“We will be taking over the G-20 chair at a very challenging time, but it is equally heartwarming that Indonesia, India and South Africa are all emerging markets. This is important because emerging markets are showing potential to lead the global economy in the next 50-60 years.

These are the economies that will give you both demand and supply-side solutions. They are going to be the central focus. We will soon be releasing our focus (areas at G20) soon,” she said.

A new Data Privacy Bill which will be a product of consultations and which will address stakeholders’ concerns, will be out soon. The (IT) Minister has been working very diligently and has assured us the new bill will be ready soon, she added.