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Official Account of the Ministry of Finance, Government of India.

Shorts

Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman is welcomed upon arrival by Shri Puneet Agrawal, Ambassador of India to Thailand India in Thailand at the Suvarnabhumi Airport, in Bangkok, today early morning. Mr Ruecha Varatorn, Deputy Director General of the Treasury Dept., Ministry of Finance, Govt. of Thailand, also welcomed the Union Finance Minister. FM Smt. Nirmala Sitharaman will attend Annual Meetings of the IMF-World Bank, and also take part in G20 and G7 Finance Ministers and Central Bank Governors (FMCBG) meetings besides bilateral meetings with many countries and organisations in Bangkok #IMFMeetings #WBGMeetings

Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman is welcomed upon arrival by Shri Puneet Agrawal, Ambassador of India to Thailand India in Thailand at the Suvarnabhumi Airport, in Bangkok, today early morning. Mr Ruecha Varatorn, Deputy Director General of the Treasury Dept., Ministry of Finance, Govt. of Thailand, also welcomed the Union Finance Minister. FM Smt. Nirmala Sitharaman will attend Annual Meetings of the IMF-World Bank, and also take part in G20 and G7 Finance Ministers and Central Bank Governors (FMCBG) meetings besides bilateral meetings with many countries and organisations in Bangkok #IMFMeetings #WBGMeetings

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Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman met Mr. Nigel Clarke, Deputy Managing Director, IMF, in New Delhi today. Mr. Clarke is on a visit to India. FM Smt. Nirmala Sitharaman and Mr. Nigel Clarke discussed India-IMF relations, with appreciation for India’s role in supporting IMF SARTTAC. Both sides emphasised the importance of continued India-IMF engagement in strengthening macroeconomic cooperation, supporting sound policies and contributing to greater regional and global economic resilience. They also discussed the outlook for India and the global economy, including India’s evolving growth trajectory and the implications of ongoing shifts in the global economic environment, including India’s trade agenda and developments in the global trading system including recently concluded bilateral trade agreements. Mr. Nigel Clarke acknowledged India’s economic performance, resilience and growth track record in the current global scenario, and Government of India’s efforts for fiscal consolidation and support measures in the aftermath of the West Asian crisis.

Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman met Mr. Nigel Clarke, Deputy Managing Director, IMF, in New Delhi today. Mr. Clarke is on a visit to India. FM Smt. Nirmala Sitharaman and Mr. Nigel Clarke discussed India-IMF relations, with appreciation for India’s role in supporting IMF SARTTAC. Both sides emphasised the importance of continued India-IMF engagement in strengthening macroeconomic cooperation, supporting sound policies and contributing to greater regional and global economic resilience. They also discussed the outlook for India and the global economy, including India’s evolving growth trajectory and the implications of ongoing shifts in the global economic environment, including India’s trade agenda and developments in the global trading system including recently concluded bilateral trade agreements. Mr. Nigel Clarke acknowledged India’s economic performance, resilience and growth track record in the current global scenario, and Government of India’s efforts for fiscal consolidation and support measures in the aftermath of the West Asian crisis.

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After attending the Conference on “Financing India’s Journey towards Viksit Bharat” in New Delhi, Shri Brijendra Prasad Yadav, Minister for Commercial Taxes and Finance, Bihar, shared his experience in person: “The Prime Minister’s vision of a developed India by 2047 encompasses the development of the power sector, agriculture and infrastructure. What are the aspirations and demands, and how can they be realised? These issues were discussed in detail at the Conference, making it a very good and fruitful experience. On behalf of Bihar, I highlighted the contributions of Dr. M. S. Swaminathan, one of the world’s great agricultural scientists, and recalled that a committee had been constituted under his leadership to facilitate the implementation of the Food Security Act. I raised the fundamental question of where the food required to ensure food security would come from, and referred to Dr. Swaminathan’s writings. I also pointed out that North Bihar has land capable of supporting three crops a year. Punjab, Haryana and western Uttar Pradesh were central to the first Green Revolution. North Bihar, therefore, should become the nucleus of a second Green Revolution. There are two types of rivers across the country: seasonal rivers, which fill up during the rains and dry up in summer. North Bihar, situated below Mount Everest and in the Himalayan region, presents a contrasting situation: its rivers fill up during summer and dry up during the rainy season. I emphasised the need to find a way to address this distinctive situation and harness its potential. This was the perspective I shared on behalf of Bihar. Thank you.”

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Watch Shri Rajesh Dharmani, Minister of Technical Education, Vocational & Industrial Training, Himachal Pradesh, share his experience after attending the Conference on “Financing India’s Journey towards Viksit Bharat” in New Delhi: It was a great experience, and I commend the efforts of the Union Finance Minister. It was the first time that Viksit Bharat, which is the dream of every Indian, realised that she tried to make a formal Team India. Because without states, it cannot be realised. Viksit Bharat will be called Viksit Bharat only when there are Viksit states. There is a big step towards this, and it is really appreciable. But where there is talk of agriculture and technology, energy transition, there are some issues which are state-specific and need to be addressed. Because there is a lot of diversity in our country. Every state has its own way of working, its own limitations and strengths. I have requested the Union Finance Minister to have such deliberations at the state level so that we can formulate state-specific policies to realise the dream of Viksit Bharat. For example, how can we use our natural resources better? Like land, water, mining, this is very important so that we can better utilise our natural resources. We need to formulate separate policies for our states and hill states. We have also requested that only when irrigation facilities reach every farmer can we increase production. Only when production increases will we be able to move towards food processing. Our focus is very limited on value addition. The more we use technology, the better it will be. We need to give incentives to the private sector in research and development because the private sector is really doing well in terms of research. And we have to promote research in the private sector. Similarly, in rural development, in NABARD, we get funding for road and irrigation schemes under RIDF. But there is a need for minor adjustments. In rural roads, there is a greater land requirement. So we have also requested that it needs to be scaled down to be jeepable and tractorable. For irrigation facilities, the DPRs are approved based on flood irrigation requirements. But at present, we need to think according to the requirements of drip and sprinkler irrigation systems. There are many issues like this. If there is an upward movement in the economy, then energy consumption increases. And our energy needs can be fulfilled. But we also have to take care of the environment. So it is important to switch over to green energy, whether it is solar energy. But the problem is that during the daytime, when there is a surplus, we are deficient during peak hours. So how do we offset that? We have to do it with battery storage or pumped hydro. But we need a national-level policy for that. Because we need a large level of investment for that. And without the financial support of the Government of India, it is difficult for many states to do it. So there have been many deliberations on this. And I think a big step has been taken in this direction. But it should not be limited just to the discussion level. Something concrete should come out of these discussions. So that the states can move forward to become developed states. That will ensure the path towards making India a developed India.

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Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman, along with Union Minister of External Affairs Dr. Dr. S. Jaishankar; Union Minister of Commerce & Industry Shri Piyush Goyal; and Union Minister of State for Electronics & IT, and Commerce & Industry Shri Jitin Prasada जितिन प्रसाद participated in the 4th India-Singapore Ministerial Roundtable (ISMR) in Singapore today. The Singapore delegation was led by Mr. Gan Kim Yong, Deputy Prime Minister and Minister for Trade & Industry. Mr. K. Shanmugam, Senior Minister and Coordinating Minister for National Security; Dr. Vivian Balakrishnan, Minister for Foreign Affairs; Mrs. Josephine Teo, Minister for Digital Development & Information; and Mr. Jeffrey Siow, Minister for Transport and Second Minister for Finance, also participated in the Roundtable. The 4th ISMR reviewed progress and explored new opportunities for cooperation across six key pillars — Advanced Manufacturing, Connectivity, Digitalisation, Healthcare & Medicine, Skills Development and Sustainability. The discussions reaffirmed the strong momentum in the India-Singapore partnership and the commitment to translate this into concrete outcomes, further strengthening the future-oriented and mutually beneficial economic partnership. Two MoUs and one Letter of Intent (LoI) were also exchanged between India and Singapore in the presence of Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman, along with Union Minister of External Affairs Dr. Dr. S. Jaishankar; Union Minister of Commerce & Industry Shri Piyush Goyal; and Union Minister of State for Electronics & IT, and Commerce & Industry Shri Jitin Prasada जितिन प्रसाद, during the 4th India-Singapore Ministerial Roundtable (ISMR). The agreements cover: ✅ Maritime Heritage Cooperation ✅ Cooperation in the area of Food Safety ✅ Cooperation in the fields of Telecommunications and Broadcasting Regulations These agreements will further strengthen bilateral cooperation across diverse areas of mutual interest.

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