COVID-19 situation provides an opportunity to business community, says FM Nirmala Sitharaman

Ladakh standoff: FinMin proposes restrictions on FDI in pension funds |  Business Standard News

Finance and Corporate Affairs Minister Nirmala Sitharaman has urged the business people and industrialists to take advantage of the unique opportunity following the COVID-19 scenario to establish exemplary cooperation between government, regulators and the industry in the country for economic progress. Recalling the government’s commitment to promote PPP mode for economic development at a virtual meet attended by industrialists and other participants organised by Confederation of Indian Industry,  Sitharaman asserted that every announcement the government has made to overcome the COVID situation in the country had a structural reform component with it. The Government is reaching out to the industry to understand their concerns. The Finance Minister also stressed the need to move fast on cabinet cleared disinvestment policy and added that the government is working with RBI to ensure adequate support to the banks in the country. Some sectors such as tourism, real estate, hospitality and aviation have been affected adversely due to the pandemic, she said and said that curative steps have been taken. The hospitality industry will soon emerge from the effects of the slowdown. The government has accorded priority to the unhindered movement of goods and people across the country to ensure speedy recovery of the economy, FM Sitharaman said as the business community is waiting breathlessly for opening up of more sectors of the economy from the 4th unlock period commencing on September 1. Picture courtesy to The Business Standard

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