‘Rate cuts should be passed on to the janta, confident benefits would reach common man’: FM Nirmala Sitharaman

In an exclusive conversation with India Today TV, Sitharaman stressed that rigorous monitoring would ensure industries, including the insurance sector, pass on these benefits in full to the people.

 Nirmala Sitharaman emphasized that rate cuts must directly benefit the common man. According to her, when banks and financial institutions reduce interest rates, the janta (citizens) should immediately feel the relief—whether through cheaper loans, lower EMIs, or increased access to credit. This statement reflects the government’s vision of ensuring that economic policies and monetary easing truly reach households, small businesses, and middle-class families, instead of remaining confined to large corporations or financial markets. On Friday, Finance Minister Nirmala Sitharaman announced that with the rollout of GST 2.0 on September 22, the government’s foremost priority will be to make sure that consumers directly benefit from tax rate reductions. Speaking in an exclusive interview with India Today TV, Sitharaman highlighted that strict monitoring mechanisms will be implemented to ensure industries—including sectors like insurance—pass on these benefits to the people without delay.