Confident of PM Modi's return with good majority, FM tries to allay investor worries

November 28,2023

Finance Minister Nirmala Sitharaman on November 27 looked confident that Prime Minister Narendra Modi will return to power with a “good majority” in 2024 and the government was dedicated to systemic reforms for an accelerated economic growth.

In a virtual debate organised by the India Global Forum, Sitharaman assured investors that they "need not be jittery at all" regarding the outcome of the general elections scheduled for April-May 2024. Her comments were framed to allay concerns and instill confidence among investors about the evolving political landscape in the country in the run-up to the polls and its potential impact on the economic environment.

"Keeping their (investors) fingers crossed is normal and I can understand that. But here I am and also there are several people who are observing the Indian economy, observing the political environment, observing the ground-level realities and the situation as it prevails today... Prime Minister Modi is coming back and coming back with a good majority," she said.

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The government, under the leadership of PM Modi, has implemented various initiatives that have positively impacted the lives of every Indian. Additionally, these efforts have contributed to an improved business environment in the country. "It is not as if this government has worked for one and not for the other. It has worked for everybody," said the finance minister.

On the employment front, Sitharaman said the government is dedicated to offering 10 lakh jobs to the country's youth by December through monthly job fairs called Rojgar Mela and, approximately 8 lakh jobs have already been provided.

Talking about climate action, the FM mentioned that India is actively advancing in this area using its own funds.

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"The Paris commitment given by us has been funded by us. We didn't wait for the $100 billion that is never on the table...a lot of talk but no money coming ... no pathway to show how technology is going to be transferred," she said.