Economy is facing a reset exercise, says Finance Minister Nirmala Sitharaman
Author: BI Bureau
New Delhi: Union Finance Minister Nirmala Sitharaman has said the momentum of reforms continues during the coronavirus pandemic and will continue in the future as well. “Several measures are being taken up to keep the reforms impetus intact such as professionalization of the financial sector and thrust on disinvestment. All enterprises, MNCs and India Inc., big, medium and small enterprises, are facing a reset exercise in doing business. We will have to make sure that policies are right to make India an attractive investment destination,” she said.
Sitharaman, who was addressing the National MNCs Conference 2020 organised by the Confederation of Indian Industry (CII) here on Monday, said the reforms announced by the government under the ambit of the Aatmanirbhar Bharat Package have opened up many sectors including niche sectors such as nuclear energy and space for the foreign investors to partake in. Moreover, it needs to be kept in mind that the underlying tenet of the marquee package is not about excluding India from the globe, but making it an integral part of the global value chains by improving its domestic competitiveness, highlighted the Finance Minister.
The Government has been working assiduously towards ensuring a facilitative environment for the MNCs operating out of India, she stated, adding that Prime Minister Narendra Modi himself has been interacting with MNCs regarding their concerns. Enthused by the government’s thrust on reforms and reduced taxation rates, several sovereign funds have expressed interest in partnering with the government on its National Infrastructure Pipeline. /BI/
