Finance Minister Nirmala Sitharaman said the debate on freebies matters because it shapes future growth. She claimed the government has “contained the leaky bucket” process using technology so beneficiaries receive the full amount, not just a fraction. Speaking in Kakinada, she also urged removing taxes hurting exports, saying the new export policy will offer incentives to exporters.
In a sharp message, the RBI argued that weak growth can’t be blamed on monetary policy alone. It pointed to its decision to avoid cutting rates by 35 bps or more, signaling that liquidity availability is not the binding constraint on growth. The stance seeks to limit the idea that more monetary easing would automatically translate into stronger economic performance.
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India is rapidly expanding its bioeconomy, rising from roughly $10 billion in 2014 to more than $195 billion in 2025, according to Jitendra Singh. The government’s direction points to reaching a $300-billion milestone by 2030, highlighting momentum in biotech, research, and bio-based industries as policymakers aim to scale impact.
RBI Deputy Governor Poonam Gupta said the central bank is in a “wait and watch” mode on inflation, emphasizing that there is currently no clear evidence of second-round effects. With global headwinds and geopolitical tensions ongoing, the RBI remains optimistic about India’s growth, balancing price stability with support for economic expansion through careful monitoring of external risks.
Commerce Minister Piyush Goyal said multiple indicators show India is firmly on a growth path. He highlighted that goods and services exports reached USD 675 billion in 2021-22 and that GST collections in April hit an all-time high of about Rs 1.68 lakh crore, rising 20% year-on-year.
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