Union Finance Minister Nirmala Sitharaman on Thursday said that the government is “ready to do everything required” to revive and support economic growth. Addressing the CII Annual Meeting 2021, she said that there are indicators which suggest that the economy is buoyant and recovery is taking place post lifting of COVID-19 restrictions by states
Sitharaman further noted that foreign direct investment has seen a growth of 37 per cent so far this fiscal, while forex reserves increased to USD 620 billion as of July. The Narendra Modi government has shown commitment to reforms even during the pandemic, she said, adding last year the Centre announced farm laws and labour reforms, among others.
She also exhorted the industry to come forward and invest in the economy.
- There are indicators of economic recovery; forex reserves at USD 620 billion
- Govt is committed to revival of economy; to undertake steps required to boost growth
- Modi government has shown commitment to reforms even during pandemic
- Relationship of govt with RBI that of a partner; both to take steps to push growth in tandem
- GST compensation to states will be paid in time so that they can undertake developmental activities
- Time has come for industry to come forward and make investments, push economic recovery