Union Finance Minister Nirmala Sitharaman said on Friday confidence was rising in the Indian stock market, on a day when BSE Sensex closed above 60,000 points for the first time.
Speaking to the media at an event here, to a question on the stock market, she said the market has its own understanding of what it does with business.
The finance minister said there is transparency in the business registration process and related regulations.
She said that “today, small investors and small investors are very interested in and investing in the stock market. Previously, retail investors participated through mutual funds.
“Now they go through mutual funds and will also directly participate (invest in the stock market) through demat accounts. Therefore, today the interest in the stock market is increasing and there are more investments and more retail investments and all this is happening in a transparent way, ”said the Minister of Finance.
“As a result, confidence in the Indian stock market is increasing,” she said.
She added that confidence in the Indian stock market is growing as retail investors and small investors heavily invest money in the stock market.
On the economy at large, Sitharaman said she was on a sustained recovery path and cited increased Goods and Services Tax (GST) and direct tax collections to support her claim.
“I can see signs of waking up and good signs of waking up very clearly. Otherwise my revenue collection wouldn’t be where it is, both GST and direct taxation, ”Sitharaman said when answering a question about returning the economy to its pre-Covid level.
She said the half-year target has already been met on direct taxes.
“And the average monthly GST collections are between Rs 1.11 trillion and Rs 1.12 trillion. It can probably be said that it will be somewhere in the range of Rs 1.15 trillion per month,” he said. she revealed.
“These are not small indicators, they are not sporadic indicators. They clearly show that the economy is on a sustained recovery path, ”she said.
The Minister of Finance attended a Bharatiya Janata Party (BJP) event in Panchkula in Haryana.
(This story was not edited by Business Standard staff and is auto-generated from a syndicated feed.)