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Sitharaman Credits 7.8% Q1 Growth Amid RBI Talks

By Drooid · Sep 16, 2026, 5:17 PM UTC · How we work

Summary

Sitharaman Credits Growth

Finance Minister Nirmala Sitharaman credited the 7.8% Q1 growth to industry effort and policy certainty.
RBI Governor Sanjay Malhotra met Finance Minister Nirmala Sitharaman on Monday to discuss the economy after the record growth.
State Bank of India (SBI) warned that oil above $100 per barrel could lift October-November inflation toward 6.5% or higher.

Summary

Sitharaman Calls Research

Finance Minister Nirmala Sitharaman called for independent tax-policy research at Bengaluru’s 8th International Tax Conference.
She urged tax experts to submit quantified proposals that estimate revenue effects.
India renegotiated tax treaties with Mauritius, Singapore and Cyprus to reclaim capital-gains source tax.
She raised appeal limits to Rs 60 lakh, Rs 2 crore and Rs 5 crore.
She noted the 2019 corporate tax cut to 22 %, a Rs 12 lakh exemption and a six-month plain-language tax code.

History

Historical Context

In 1991, a balance-of-payments crisis left India with reserves enough for only three weeks of imports; Prime Minister P.V. Rao and Finance Minister Manmohan Singh secured a $1.8 billion IMF loan and devalued the rupee by 19% in July. The liberalisation that followed underpins today’s 7.8% Q1 growth, RBI Governor Sanjay Malhotra’s inflation warning, and Finance Minister Nirmala Sitharaman’s tax reforms.

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Sitharaman Credits Growth

Finance Minister Nirmala Sitharaman credited the 7.8% Q1 growth to industry effort and policy certainty.
RBI Governor Sanjay Malhotra met Finance Minister Nirmala Sitharaman on Monday to discuss the economy after the record growth.
State Bank of India (SBI) warned that oil above $100 per barrel could lift October-November inflation toward 6.5% or higher.

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