Finance Minister Nirmala Sitharaman’s statement on Paytm and Byju crisis

Finance Minister Nirmala Sitharaman had presented the interim budget last Thursday i.e. on 1 February. This Finance Minister, after presenting the sixth consecutive budget, has talked about many issues during an interview with our associate newspaper Times of India. The Finance Minister said that this was not the right time to make big announcements in this budget. There will be more scope in the July budget. In this interview, the Finance Minister has expressed his views on many issues ranging from Paytm Payment Bank to Byju’s and inflation etc. The Finance Minister said that every effort is being made to control inflation. Said that at present the demand and technology is increasing very fast in the ruler area. Apart from this, people living in small towns and villages are also getting help in connecting with the market. Rural areas in the country are also progressing very fast and the market there is also developing rapidly.

Said this on Paytm and Byju

At present, India’s two most valuable startups Byju and Paytm Payments Bank are facing difficulties. Do startups need to rethink the way they do business and comply with regulations? In response to this question, Finance Minister Nirmala Sitharaman said that she does not want to comment on issues related to any company. This is the job of the regulator and the company. Both of them have to deal with this. He said that at present many companies are going through this phase. It is not their job to give advice on the way startup companies have established themselves in India and made their mark in the world.

Solar energy is expanding

The Finance Minister said that now investment is being made in new emerging domains. Batteries, green hydrogen, AI and solar energy are expanding. Said that in the initial days he was told that the automobile sector was in deep crisis, they had huge inventory. Today, even as the transition to electric vehicles takes place, there are waiting lists. On inflation, the Finance Minister said that the government is making every effort to stop it.