New Delhi: Union Finance Minister Nirmala Sitharaman on Saturday broke the silence on the news of consumer spending reaching a 45-year low and the government's decision not to publish a report on it. He said in an interview given to the media that due to mistakes in the data, the government decided not to release the report related to consumer spending. Regarding the relief to the middle class people in the next budget, the Finance Minister has a reply that it is right that most of the buyers of the house are from the middle class and we have made many announcements regarding affordable homes. He said, 'Data cannot be disputed for every data associated with every economy. The NITI Aayog, Union Ministry of Statistics and the Chief Economic Advisor have clarified on the Employment that why employment related figures in India are not accurate and you cannot comment on them. Is this not applicable to consumption data? The government itself has realized that there may be some errors in the data and hence we decided not to release it.

Rejecting the report of the Consumer Confidence Survey reaching a 6-year low, the Finance Minister said that if the consumer confidence is not on track, what will be said about the huge loan disbursed by the banks under the two programs. He said, 'Loans worth Rs 81,000 crore were disbursed in the first phase, while loans worth more than Rs 1 lakh crore have been distributed in the second phase. These loans have been distributed throughout the country. He said, 'The second thing is that you look at the sale of used cars. I spoke to the officers of a big car company and I asked them about the inventory. He said that he has no problem. Has this happened without a consumer sentiment? I did not meet the officer of another car company, but he said that all his stock has gone out and waiting for two to three months is going on. This makes it clear that the consumer sentiment is on the path of reform. '

On the corporate tax cuts and its impact on the land, the finance minister said, 'People often ask what happened after the corporate tax cuts? Did investment increase? Did investors start fresh investment? I am talking to industry veterans, they say they will invest at the right time. ' He said, 'People say that there is no visible effect of tax cuts at the ground level. I announced tax cuts on 20 September and it would take time for industries to announce their investment decisions. People from many sectors are coming to me and saying that they have now come out of the crisis.

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