Student asks FM which is best communalism, socialism or capitalism. Sitharaman replies

Union Finance Minister Nirmala Sitharaman said that capitalism with democracy and capitalism that is conscious of society is a good solution for all of us. The minister was speaking on "Viksit Bharat @2047" at an event organised by Gujarat Chamber of Commerce & Industry (GCCI) in Ahmedabad.

The finance minister was a replying to a seventh grade student, who asked her about the best economic system among communalism, socialism or capitalism.

"It's capitalism, which has historically proven to be successful in the removal of poverty & in the creation of wealth, but today, there's also a feeling that unbridled capitalism is also not good," she said.

"Thankfully in India, under the Modi Govt, we understand where Capitalism needs to be tempered down a bit so that communities will benefit & not just one person," Sitharaman said.

Sitharaman highlighted India’s economic transformation, noting past challenges such as double-digit inflation.

She also talked about Gujarat’s pivotal role in attracting investments, its success in textiles, chemicals, semiconductors and aerospace.

“Viksit Bharat is not a high-flying dream; it is an achievable goal,” the finance minister said, underlining the practicality of India’s economic aspirations.

Explaining the rationale behind pegging the target to 2047, Sitharaman elaborated, “Pegging it to 2047 is not because it is 100 years of independence but today we are in a position where with another 25 years of good solid ‘Sabka Pyaras’, we will be able to reach it.”