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Monday, April 15, 2024

Regulators are experts in their domain, FM gives veiled message to judiciary on Adani-Hindenburg issue

Finance Minister Nirmala Sitharaman on Saturday said that regulators in Bharat are quite experienced and experts in their domain.

She said this when asked to react to Supreme Court’s observation on the Hindenburg-Adani group controversy.

The Supreme Court on Friday heard a petition seeking its intervention in the Adani row.

Chief Justice D.Y. Chandrachud, while hearing the matter on Friday, said that “Do we intervene and have a mechanism to ensure this doesn’t happen again? We do not want to get into policy matters. That is for the government.”

The apex court also sought a response from the finance ministry and SEBI on how to ensure the protection of the investors in light of the recent market crash following stock manipulation allegation against the Adani Group, exposed by US firm Hindenburg.

Reacting further on issue, the finance minister said that “regulators are always on their toes, and not just now. So I will leave it there.”

“You are obviously not expecting me to tell you what I would tell in the court,” the finance minister said further.

The finance minister said this while addressing a press conference after the customary post-budget address to RBI’s board.

Meanwhile on the new tax regime, Sitharaman said that it will benefit the middle class as it will leave more money in their hands.

The finance minister said that it is important to allow people to make a personal choice on where to invest.

To a question on regulating crypto assets, the finance minister said that New Delhi is discussing with G20 nations on formulating a common framework for it.

RBI governor Shaktikanta Das, while replying to a question on inflation, said that retail inflation is expected to be around 5.3 per cent in 2023-24 and may come down further if crude oil prices remain moderate.

He informed that the central bank expects crude oil to be around $95 per barrel for projecting inflation for 2023-24.

(This article has been published via a syndicated feed with a modified headline and minor edits to conform to HinduPost style guide)

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