Finance Minister Nirmala Sitharaman who presented the Union Budget 2019 on July 5 has expressed hope over the government and the Reserve Bank of India's positive relations. Speaking at the India Today Budget Roundtable, attended by the who's who of India Inc on Monday she said that the government wants to exchange lot of thoughts with the RBI.
During the discussion, Uday Kotak, Managing Director of Kotak Mahindra Bank commented that there is a significant monetary policy room along with interest rates, provided India Inc works in collaboration with the central bank.
Replying to Kotak's statement, the Finance Minister said that she is, in fact, looking forwards to a positive engagement with the Reserve Bank of India. "We want to exchange a lot of thoughts with them and there will definitely be certain positive energy between two the institutions. In fact, I was surprised when the Governor (Shaktikanta Das) said that he welcomed the decision of Rs 70,000 crore for recapitalisation of money for the banks," she said.
The minister further said that she envisages a phase where positive energy is emanated from both the organisations. Nirmala Sithraman also said, "We placed a lot of emphasis to understand what should happen on the developmental financing. We are making sure that the committee that we have announced will go into the details and quickly tell us how to get over the problems and focus on development finance."
Other personalities who were part of the roundtable discussions were Sanjiv Goenka, Chandrajit Banerjee, Samiran Chakraborty, Ajit Ranade and Ila Patnaik in attendance.