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Finance Minister Nirmala Sitharaman said on Saturday that the regulators in India are very experienced and experts in their field. He said this when asked to react to the Supreme Court’s remarks on the Hindenburg-Adani group dispute. Let us tell you that after the Hindenburg report, the stock prices of the group companies started falling rapidly. The Supreme Court on Friday heard a petition seeking intervention in the Adani dispute. Chief Justice D.Y. Chandrachud, hearing the matter on Friday, said whether we intervene and there is a mechanism to ensure that this does not happen again, we do not want to get into policy matters. This is for the government.
top court asked for answer
The apex court also sought response from the Finance Ministry and SEBI on how to ensure the protection of investors in the light of the recent market fall following the stock manipulation allegation by American firm Hindenburg against the Adani Group. The Finance Minister said, clearly you are not expecting me to tell you what I will say in the court. The Finance Minister said this while addressing a press conference after addressing the board of the Reserve Bank of India after the budget. Meanwhile, on the new tax regime, Sitharaman said it will benefit the middle class as it will leave more money in their hands. The Finance Minister said that it is important that people are allowed to make a personal choice of where to invest.
Quick decision on crypto currency
To a question on regulating crypto assets, the finance minister said New Delhi is in discussion with G20 countries on creating a common framework for it. Responding to a question on inflation, RBI Governor Shaktikanta Das said retail inflation is expected to hover around 5.3 per cent in 2023-24 and may come down further if crude oil prices remain subdued. He pointed out that the central bank expects crude oil to be around $95 a barrel to project inflation for 2023-24.
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