This Budget was put through the wringer to ensure that every number was credible: Nirmala Sitharaman

Fresh from presenting a Budget that represents a clean break from past policies, Union Finance Minister Nirmala Sitharaman was in Chennai last weekend to hear feedback from industrialists and common citizens. “This is a Budget that was put through the wringer to ensure that every number was credible and achievable and did not reflect over-ambition,” she said, in an hour-long interaction with Business Line. The Minister explained why her Government thinks it’s time to recognise wealth creators, the thinking behind bank privatisation and the new DFI, while defending the proposals on cess and EPF taxation. Edited excerpts: A fundamental shift in governance was already underway between 2004 and 2019 and we are only continuing with it. Governance is now entirely focused on last-mile delivery, connectivity, simplifying regulatory and administrative compliance and keeping the government at arm’s length from institutions that had gotten too close. I think this kind of emphasis on governance had already started full force right from 2014.