London/ Delhi: Finance Minister Nirmala Sitarman said on Wednesday that the government is focusing on ensuring that domestic demands to maintain the underlying strength of the Indian economy were strong. Amidst his comments, there is a possibility that the American tariffs would cause global recession, which inspired the RBI to reduce the forecast for the current financial year.
Supporting RBI’s latest rate cuts, FM said the Indian economy would require support from both the central bank and the ministry to maintain growth in front of the global uncertainties inspired by the US Tariff Hike. “The Ministry is keeping pace with some policy decisions and also in the budget, many announcements have been made to increase development and now, so come to this decision (cut in rate) absolutely welcome,” Sitharaman Said.
On the long -term impact of the US tariff on Indian imports, he said that the Indian government was studying duties and pursuing an “ambitious trade agreement”, from which both the US and India could benefit. “So this is a side, and the second is that America is the largest trading partner for India. But even said that India’s economy is largely inspired by domestic demand and consumption,” he said.
