To be world leader, private sector must be key driver of growth: Sitharaman

Finance Minister Nirmala Sitharaman on Sunday said the Union Budget 2021-22 was about the role of government as a facilitator and the private sector as a key driver of economic growth, without which the country would be losing a big opportunity.

“The most important component or input required here is the participation of the private sector. Unless the private sector is energised enough, unless it is facilitated enough, India is just losing a very big opportunity,” Sitharaman said in Bengaluru during the interactive session organised by the Bangalore Chamber of Industry and Commerce.

Sitharaman underlined that the nation’s growing and aspiring needs and demands across various sectors cannot be served just by state government and central governments put together.

“To be a world leader with that specific India touch, which is more humane, more about bringing everybody together...If that is the way India approaches its responsibility, that will be incomplete unless the government plays the role, it is expected to play the facilitator and unless the private sector plays the role of a key driver. So that’s the message this budget has talked about,” the Finance Minister said.

Meanwhile, Wipro founder Azim Premji said more than 90 per cent of the workforce in the technology industry of the country continued to work from home, and lauded the hybrid model of work.

He said it would drive inclusive growth, and better participation from all parts of the country.