FM Sitharaman, economists gather: concentrate on China, aim inflation
This is in response to recent tariffs imposed by the US and EU on Chinese electric vehicles (EVs), which have Indian exporters and manufacturers concerned about dumping in Indian markets.
At the first pre-Budget consultation meeting, which was presided over by Finance Minister Nirmala Sitharaman on Wednesday, economists and policymakers discussed a number of issues and potential solutions, including the need to review the inflation targeting mandate, increase private investment, consumption, and China's excess capacity. These issues were raised in light of the persistent food inflation and the country's heavy reliance on Chinese goods.
The meeting was held in advance of the general budget 2024–25 presentation next month and included the Finance Secretary, Secretaries of the Departments of Economic Affairs, Revenue, Financial Services, and Corporate Affairs; and Chief Economic Adviser.
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