While addressing a special session of the Bharat Chamber of Commerce in Kolkata, Union Minister of State for Finance Jayant Sinaha said that the government was prepared to handle the deficit arising out of a deficient monsoon. Mr. Sharma said that the government is fully prepared this year, and that it has a number of contingency plans and rapid response mechanism in place.
Mr. Sinha reminded everyone how the last years’ monsoon was also deficient and still the Govt had been successful in managing food supplies and prices. He also referred to the lower inflation and lowered interest rates that we are now witnessing despite seeing below the average rainfall.
Mr. Sinha said that moving stalled projects was one of the bigger challenges for the government. He said that various structural hurdles and environmental issues are leading to stalled projects.
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