Finance Minister Lauds Indian Regulators, Calls for Balanced Critique

Finance Minister Nirmala Sitharaman praised Indian financial regulators for enhancing transparency. She stressed the importance of acknowledging their contributions while responding to critiques. Addressing various economic topics, Sitharaman emphasized prudent fiscal spending, criticized excessive political freebies, and called for better corporate governance and investment in technology.

Finance Minister Nirmala Sitharaman, speaking at the Financial Express Best Banks Awards, praised Indian financial regulators for their transparency-enhancing efforts. She advised cautious critique, urging consideration of emerging facts, especially in the context of the SEBI controversy involving allegations against Chairperson Madhabi Puri Buch.

Emphasizing the impact of over-promising welfare schemes, Sitharaman warned of states jeopardizing finances by overextending themselves. She advocated spending restraint and a focus on development needs, highlighting the necessity of policies aligned with fiscal capacities. Sitharaman assured that welfare measures should support poverty alleviation without compromising financial stability.

Addressing other economic issues, Sitharaman called for discussions on consumer and wholesale inflation differences, noting other burgeoning sectors like semiconductors alongside mobile exports. With rising consumption patterns, she commended digital platforms for enabling middle-class investments and urged banks to balance lending and bolster cybersecurity.