New Delhi, June 15 (IANS). Union Finance and Corporate Affairs Minister Nirmala Sitharaman said on Monday that India has performed very well on the economic front, but the country’s growth story cannot be taken lightly. He stressed that continuous innovation, reform and institutional strengthening are necessary to maintain the pace of long-term development.
Speaking at the Mindmine Summit 2026, the Union Finance Minister said that economic growth alone is not enough, strong institutions, effective policies and strong supporting mechanisms are also needed to ensure sustainable and inclusive growth.
“I know our country is doing well economically, but we must constantly carefully assess our performance and identify areas where further improvement is needed,” he said.
Sitharaman said that to sustain growth in such a large and complex economy, it is necessary to strengthen capabilities, increase efficiency and ensure that the benefits of development reach every section of the society.
According to him, the global economic environment is constantly changing, hence India’s policies should also be strong and adaptable to the circumstances.
He said, “We should not assume that progress will happen automatically. Continuous efforts, innovation and reforms are necessary to maintain the pace of development.”
The Finance Minister said that while many sectors have performed brilliantly, there are still some sectors that require special policy support, especially those involving complex and intermediate products and services.
He said policymakers need to continue to look at how long-standing challenges can be addressed through structural reforms, better implementation or new policies.
Sitharaman said, “These issues have been discussed for many years and now the biggest question is how they will be resolved in the future.”
He said that the government is continuously working to face future challenges and take policy steps in line with the changing circumstances.
Referring to the Covid-19 pandemic, the Finance Minister said that some of its effects are still affecting planning and economic expectations, although no major disruption is expected at present.
Sitharaman said the government will continue to keep a close eye on the evolving situation and work towards strengthening India’s long-term growth prospects.
Along with this, the Finance Minister said that the government is making preparations keeping in mind the possibility of weak monsoon due to El Nino effect.
“Some areas may see drought-like conditions, while some areas may see excessive rainfall. This is a matter of concern throughout the year. But this year due to El Nino, we are preparing for a less favorable monsoon than normal,” he said.
–IANS
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