Budget 2022: FM Sitharaman addresses RBI board; outlines govt's priorities

Finance Minister Nirmala Sitharaman on Monday addressed the directors of the central board of the Reserve Bank of India (RBI) in her customary post-Budget meeting.
 
"The 593rd meeting of the Central Board of Directors of Reserve Bank of India was held today at New Delhi under the Chairmanship of Shaktikanta Das, Governor," the RBI said in a release.
 
During her address, Sitharaman outlined the thinking behind the Union Budget 2022-23 and the priorities of the government.
 
"Complimenting the Finance Minister on the Budget, the board members made various suggestions for consideration of the government," the release said.
 
Minister of State for Finance Bhagwat Kishanrao Karad, Finance Secretary TV Somanathan, DIPAM Secretary Tuhin Kanta Pandey, Revenue Secretary Tarun Bajaj, Financial Services Secretary Sanjay Malhotra, Economic Affairs Secretary Ajay Seth and Chief Economic Advisor  V Anantha Nageswaran were also present during the meeting.
 

FM Smt. @nsitharaman addresses the Central Board of Directors of the @RBI along with Shri @DasShaktikanta in its customary post-Budget meeting in New Delhi. Minister of State for Finance Shri @DrBhagwatKarad and Secretaries of the MoF are also attending the meeting. pic.twitter.com/g8IR1yIezW

— Ministry of Finance (@FinMinIndia) February 14, 2022

 
It has been a custom that the Finance Minister addresses the RBI board after the Budget.
 
Also Read: Momentum of inflation from Oct on downward slope: RBI Gov Das

This year's Budget, presented earlier this month, estimates a nominal gross domestic product (GDP) growth of 11.1 per cent. The Centre expects this growth to be fuelled by a massive capital spending programme outlined in the Budget with a view to crowd-in private investment by reinvigorating economic activities and creating demand.
 
Sitharaman raised capex by 35.4 per cent for FY23 to Rs 7.5 lakh crore to continue the public investment-led recovery of the pandemic-battered economy. The capex this year is pegged at Rs 5.5 lakh crore.
 
The central bank's board also reviewed the current economic situation, and global and domestic challenges. It also felicitated its director and Tata Sons Executive Chairman N. Chandrasekaran for being awarded Padma Bhushan.
 
RBI's deputy governors Mahesh Kumar Jain, Michael Debabrata Patra, M Rajeshwar Rao, T Rabi Sankar, and other directors -- Chandrasekaran, Satish K Marathe, S Gurumurthy, Revathy Iyer and Sachin Chaturvedi -- also attended the meeting.

Also Read: Former Turkish Airlines Chairman Ilker Ayci named Air India CEO, MD