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Union Finance Minister Nirmala Sitharaman on Tuesday said the Reserve Bank of India (RBI) would continue its efforts to ensure that the rupee does not
become excessively volatile. While speaking at the Bloomberg New Economy Forum 2026, Sitharaman said the rupee's depreciation over the past year had been significant. “Rupee depreciation over the past year has been significant and most of it was due to global challenges.” India's strong macroeconomic fundamentals should reassure investors about the country's fiscal discipline. Sitharaman further added that India's growing middle class and rising purchasing power were giving businesses greater confidence to manufacture goods for both domestic consumption and export markets.
Government to hear LTCG tax:
The Finance Minister also said the government would be keen to hear views on the removal of long-term capital gains (LTCG) tax during Budget consultations, as investors in India and abroad raise questions about equity taxation.
"LTCG, a lot of people are commenting on, both Indian and foreign investors. This debate on STT in market and question of treating all asset classes similarly, there is a lot of debate. It is healthy to have this debate," Sitharaman said.
Sitharaman said the National Infrastructure Pipeline, launched in late 2019, had crossed $4.5 trillion. She also cited the National Bank for Financing Infrastructure and Development (NaBFID) and the National Investment and Infrastructure Fund (NIIF) as institutions that had helped mobilise funds for infrastructure development.
