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FM Nirmala Sitharaman on economic crisis, What's in it for industry? | The Last Word
Posted
August 23, 2019
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47:43Now PlayingOn The Last Word tonight, Government responds to the SOS. Finance Minister Nirmala Sitharaman announced that soon home and auto loans will become cheaper. During her press conference, FM Sitharaman said that RBI had been cutting down the repo rate every quarter but the banks were not passing on any rate cut to the borrowers. The government seems to have heard the SOS that was being sent over the economic slowdown. What has happened today will help boost the sentiments a little bit. The government has made a start. They have corrected the wrongs. But a lot more needs to be done.
We ask - What's in it for the consumers? What's in it for the industry? Will it revive the economy's animal spirit? What is needed: stimulus or reforms? What does India need to revive growth? Is today's announcement for the auto sector a good start? Is it a sensible thing to spend taxpayers money simply to boost the sales of the auto industry?
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