Nirmla Sitharaman, while reacting to FPO pullout by Adani group has stated that it will have negligible impact on perception about India.
The Finance Minister Nirmala Sitharaman while addressing a Post conference in Mumbai stated;
“This is not the first time that some FPO (follow-on public offering) is taken back. How many times that has affected the image of the country?”
Nirmala Sitharaman : FPO Pullout will not have any impact on perception of India
This follows, the decision taken by Adani Enterprises not to go ahead with its fully subscribed Follow-on Public (FPO), with its Chairman Gautam Adani stating that it would not be “morally correct” to go ahead with Rs 20,000 crore share in the current market condition.
In the Press Conference Finance Minister also addressed query pertaining to Life Insurance Corporation of India (LIC)’s exposure to the Adani Group,
“LIC have themselves come on the issue about their exposure to the Company (Adani).”
Indian Economy recovers and bounces back
Finance Minister also stated that the Government wants to sustain the recovery of the economy:
“We want to sustain the recovery which had kept India at a good level of growth, which no country – except for one because it’s fuel rich – has managed to reach,”
She also stressed,
“It was an expressed desire of the Prime Minister that capital expenditure should be kept up and that is why it has reached Rs 10 lakh crore.”
Also Read: Uttar Pradesh: 5 arrested in Lucknow for lowering electricity metre reading
Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER.
