Subhrakant Panda compliments Union FM Sitharaman for adroit handling of economy in challenging times

BySubrat Sarangi

New Delhi, Aug. 5: Managing Director (MD) of IMFA Ltd Subhrakant Panda on Thursday met Union finance minister Nirmala Sitharaman complimented her on deft handling of the Indian economy during challenging times.

Mr Panda was accompanied by FICCI Past Presidents Harsh Pati Singhania and Sandip Somany as well as Director General Arun Chawla.

“Complimented FM on deft handling of the Indian economy during challenging times; in fact, though many questions were raised about the timing and extent of stimulus measures during the pandemic, the manner of intervention was the right thing to do as is evident from runaway inflation where “helicopter money” was abundant. Most importantly, no Indian went hungry thanks to the food subsidy,” wrote the IMFA Ltd MD on his Twitter handle.

The underlying fundamentals of the Indian economy are strong and it is poised to grow 7.0-7.4 per cent depending upon how certain external issues pan out. Inflation will moderate especially given that commodity prices have come off highs.

“The FM reiterated her support of Reserve Bank of India (RBI)’s policy to have an orderly movement of the currency rather than defend a particular level. She was also very receptive to the suggestions we made about green financing,” wrote Mr Panda.