India has embarked on the path of a self-reliant economy: Finance Minister

Union Minister of Finance & Corporate Affairs Smt. Nirmala Sitharaman attended the 7th Annual Meeting of the Board of Governors of Asian Infrastructure Investment Bank (AIIB) via video conference from New Delhi. Sitharaman stated that, despite exogenous threats, India's well-targeted policy mix, accompanied by major structural reforms and sound external balance sheet, have aided its growth to remain resilient. The Finance Minister emphasized that India has embarked on the path of a self-reliant economy and therefore has been successful in mitigating the negative effects of the pandemic. Smt. Sitharaman underscored the remarkable progress India has made through its Digitalization Mission, utilizing technology to facilitate social protection and boost financial inclusion. The Finance Minister suggested that in order to ensure meaningful impact is achieved and resources are not scattered in multiple areas, AIIB needs to scale-up investments in key priority areas including clean energy and energy efficiency, disaster resilient infrastructure, social infrastructure with a special focus on education and health, and digital infrastructure.

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