Govt prepared to deal with any Global development: Sitharaman

Finance Minister Nirmala Sitharaman on Sunday asserted that India  is prepared to deal with any situation arising out of global developments, including the US Federal Reserve's decision to roll back monetary easing, and will not allow the economy to suffer. In an interaction with industry body Ficci, she urged corporates to take advantage of the recovery in the economy and step up investment."It's time now for us as Team India to rise. We are at such a juncture where revival of the economy is very clear...this recovery is therefore going to place India as the fastest growing economy among the larger economies and that would continue even in the next fiscal," the minister said. Post pandemic, the world order has changed and industry leadership should ensure that India doesn't miss the bus this time, she said.

"Now with the RBI and the government working together and very much keenly observing what is going on in the global financial ecosystem...we have also learnt the lessons of the last crisis which the government of India faced in 2012-13 and 2013-14.She exuded confidence that India would definitely leap forward and reach such sustained growth levels and before 2047 it would stand out as one of those well developed, absolutely endowed countries.With regard to disinvestment, the finance minister said, "selling something of value and not just for the government but I'm sure you in your own businesses don't very quickly or hastily take the decision to sell things which can require a lot more attention. And in the government, it's all the more." However, she said, things are moving on the disinvestment side.