India needs to prepare for global competition : FM Nirmala Sitharaman

New Delhi : Finance Minister Nirmala Sitharaman held a press conference today i.e. May 16, Saturday at 4 pm. In the last three days, Union Finance Minister Nirmala Sitharaman has announced three tranches of measures to cushion the impact of the Covid-19 pandemic and the lockdown on the economy. On Day 1, she announced relief measures to micro, small and medium enterprises. The following day, she announced measures for migrants, farmers and street vendors. On Friday, funds were allocated to agriculture and allied activities.

By building a self-reliant India, the country needs to prepare for global competition, she says, adding that India also needs to face the challenges of the global value chain. “We are not looking inwards. It is making India rely on its strength, while facing the global challenges,” Sitharaman says. She added, “When we talk of self-reliant Bharat, we should prepare ourselves also for tough competition.”