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Monday, February 17, 2020

Express ADDA Highlights: Our concerns were not met, says FM Sitharaman on RCEP

At Express Adda today, Sitharaman spoke on the series of growth measures announced by the government over the last three months and the impact on the growth of the country.

By: Express Web Desk | New Delhi | Updated: November 5, 2019 9:36:31 pm
Finance Minister Nirmala Sitharaman in conversation with The Indian Express’s Executive Editor-National Affairs P Vaidyanathan Iyer and National Opinion Editor Vandita Mishra. (Express Photo)

A day after India said it won’t join the Regional Comprehensive Economic Partnership (RCEP), the 16-nation trade agreement, Finance Minister Nirmala Sitharaman said that “many of our core concerns were not met… we haven’t got what we wanted”. The finance minister, who is addressing a gathering at the Express Adda in Mumbai today, added: “We’d love to continue and have our concerns addressed. I’m satisfied that partner countries said they’ll address our concerns. We’re not shutting our doors or looking inwards.. we are actively engaging with global trading communities.”

India on Monday said it will not join the trade agreement since it “does not reflect its original intent” and the outcome is “neither fair nor balanced”.

When asked if the dwindling state of economy played a role in BJP’s low performance in Haryana and Maharashtra, Sitharaman said, “It’s not possible for whichever government, in centre or state, to not talk about the economy at all & ask for votes. The economy is a matter, but voter sees there is a genuine attempt to build economy.”

Sitharaman was in conversation with The Indian Express’s Executive Editor-National Affairs P Vaidyanathan Iyer and National Opinion Editor Vandita Mishra. Express Adda is a series of informal interactions organised by The Indian Express Group and features those at the centre of change.

Live Blog

Nirmala Sitharaman is the guest at the Express Adda in Mumbai today

Highlights

    19:46 (IST)05 Nov 2019
    Watch: FM Nirmala Sitharaman in conversation at Express Adda

    " Economy is a challenge but voter sees the effort being put in.. very patronising to think voter doesn’t care about digitisation."

    19:38 (IST)05 Nov 2019
    Job positions will not be filled if clauses like reservation for locals are put: Sitharaman

    Speaking on job reservation on locals, Sitharaman said, " You’re not going to be able to fill positions if you put up such a clause (job reservation for locals). You can’t stop work... will make it difficult."

    19:32 (IST)05 Nov 2019
    We are open to more banks coming in from the corporate sector: Nirmala Sitharaman

    Thre Finance Minister concluded her talk with demanding for more banks coming in from the corporate sector.

    19:24 (IST)05 Nov 2019
    We are looking at electric vehicles and public transport as a measure: Sitharaman on pollution in Delhi


    Sitharaman on rising pollution level: " Whether cars alone or other factors are adding to pollution we need to see. PM advisor and principal secretary are both looking at pollution issues. We are looking at electric vehicles and public transport as a measure."

    19:22 (IST)05 Nov 2019
    Govt is working to improve its growth rate: Sitharaman on GDP at 5%

    Speaking on the economic slowdown and GDP at 5 per cent, Finance Minister Nirmala Sitharaman said the government is working on improving the growth rate. " In real estate, we have started working on, soon we will have answers to home buyers. Soon we will come at a stage to offer some solutions to them," she said.

    "Government is also looking at EVs and strengthening and encouraging public transportation," she added.

    19:15 (IST)05 Nov 2019
    I am not a socialist, I am market reformer: Sitharaman

    I am not a socialist and Idea to tax the super-rich didn't come from there: Sitharaman says she's a market reformer. "Very consistent with being a free-thinker," Sitharaman adds on how she identifies herself.

    19:10 (IST)05 Nov 2019
    We criticised MNREGA because it didn't create assets: Sitharaman

    Secondly, "we criticised MNREGA because it didn’t create assets. We made sure there were no spurious middle-men/agents coming in. There’s value addition so it’s not the same MNREGA," said Sitharaman 

    19:05 (IST)05 Nov 2019
    NITI Aayog has not replaced planning commission: Sitharaman

    NITI Aayog is a think tank, it takes up issues faced by the government based on which policies are created. NITI Aayog has not replaced the planning commission.

    18:59 (IST)05 Nov 2019
    Will bring amendments to meet requirements of banking law: Sitharaman on PMC

    On PMC bank issue, Finance Minister Nirmala Sitharaman said, "We have had more than 3 meetings to address how to address depositors." To ensure their money is safe, to look at the cooperative organisation on how they can do a banking role, "we will bring in amendments so when you call yourself a bank you have to meet requirements of the banking law." 

    18:46 (IST)05 Nov 2019
    If digitisation takes away job, it also creates new jobs: Sitharaman

    If digitisation takes away jobs, it also creates a new job and that is why today many of the industries today are recalibrating themselves and it will surely help India grow 

    18:46 (IST)05 Nov 2019
    India's economy has its own signature: Sitharaman

    India is unique in several ways and its economy has its own signature. You really cannot undermine the role of smaller-scale industries in our country. India has a large domestic market and hence it is difficult to compare it with other companies.

    18:40 (IST)05 Nov 2019
    Economy is an issue during every election: Sitharaman

    The economy is an issue during every election. Each and every voter is concerned about economy and voter voters for a change and sees an attempt being made by the government to improve the economy.

    18:36 (IST)05 Nov 2019
    We may have missed the bus last time but we won’t miss the bus now: Sitharaman on deciding on reforms    

    Finance Minister Nirmala Sitharaman on the Modi govt getting a huge mandate and deciding on reforms: " We may have missed the bus last time but we won’t miss the bus now."   

    18:25 (IST)05 Nov 2019
    We’re not shutting our doors or looking inwards.. we are actively engaging with global trading communities: Sitharaman

    Speaking at the Express Adda today, Finance Minister Nirmala Sitharaman spoke on India's decision to withdraw from RCEP. She said, " many of our core concerns were not met... we haven’t got what we wanted. We’d love to continue and have our concerns addressed. I’m satisfied that partner countries said they’ll address our concerns,"

    " We’re not shutting our doors or looking inwards.. we are actively engaging with global trading communities," she added

    18:18 (IST)05 Nov 2019
    FM Nirmala Sitharaman at Express Adda

    Union Finance Minister Nirmala Sitharaman arrived at Express Adda. Event to begin shortly. During the first five-year term of the Narendra Modi government, Sitharaman served as Union Minister with independent charge for Corporate Affairs and Minister of State for Finance before she was elevated to the post of Defence Minister. In the present government, Sitharaman heads the Union Finance and Corporate Affairs ministries. 

    18:11 (IST)05 Nov 2019
    We expect FM Sitharaman to speak about how she proposes to revive the Indian economy: Suresh Shetty

    Suresh Shetty, former Maharashtra Health minister says:  " The whole country is undergoing financial crisis and in this Adda we expect the Finance Minister of India to speak about her plans and how she proposes to revive the Indian economy."

    18:03 (IST)05 Nov 2019
    Few more minutes for our Express Adda with FM Nirmala Sitharaman

    Sitharaman to give insight on various economic policies at a time when the country is going through a financial crisis. 

    17:56 (IST)05 Nov 2019
    Edelweisse Group CEO keen to hear FM talk about economic policies

    Amid a series of growth measures announced by the government over the last three months, Sitharaman unveiled the biggest corporate tax reform in India’s recent history by cutting the tax rate for domestic companies to 22 per cent, excluding surcharge and cess, and new domestic manufacturing companies to 15 per cent. The move has made India one of the most competitive countries in the region from a taxation standpoint.

    17:55 (IST)05 Nov 2019
    FM Sitharaman arrives at Express Adda, event to begin soon

    Express Adda to begin shortly. 

     

    17:39 (IST)05 Nov 2019
    Sitharaman to arrive at Express Adda shortly

    At Express Adda today, Sitharaman will be in conversation with The Indian Express’s Executive Editor-National Affairs P Vaidyanathan Iyer and National Opinion Editor Vandita Mishra.   

    17:24 (IST)05 Nov 2019

    Finance Minister Nirmala Sitharaman is the guest at Express Adda this evening. Follow this space for LIVE updates as Sitharaman will speak on the economic slowdown and the various measures the government as undertaken so far.   

    Big bank reform: 10 merged into four for scale and growth Finance Minister Nirmala Sitharaman during a press conference to announce the merger of various public sector banks, in New Delhi: Express Photo By Amit Mehra, August 30, 2019

    Born in Madurai in a middle-class family, Sitharaman completed her Masters in Economics from JNU. Her mother-in-law was a Congress MLA and her father-in-law a minister in the Congress government in Andhra Pradesh in the 1970s. Sitharaman joined the BJP in 2008 and became the party’s national spokesperson in 2010.

    During the first five-year term of the Narendra Modi government, she served as Union Minister with independent charge for Corporate Affairs and Minister of State for Finance before she was elevated to the post of Defence Minister. In the present government, Sitharaman heads the Union Finance and Corporate Affairs ministries.

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