Advertisement

Home / Business / Finance minister looks to overcome funds crunch

Finance minister looks to overcome funds crunch

Domestic revenue generation a major concern because of the debilitating effect of the pandemic: Sitharaman
Nirmala Sitharaman

Our Special Correspondent   |   New Delhi   |   Published 26.08.20, 05:46 AM

Finance minister Nirmala Sitharaman on Tuesday told the members of the Confederation of Indian Industry that the government had done a credible job on structural reforms even as she admitted that domestic revenue generation had been a major concern because of the debilitating effect of the pandemic on sectors such as hotels, tourism, real estate and aviation.

The intent on reform has been reflected in the slew of measures and policies announced since the outbreak of Covid-19, Sitharaman said. 

Advertisement

The  government will move fast on the Cabinet-cleared strategic disinvestment decisions, she added.

“Every policy which was introduced had a structural component. Consequently, the reforms are having a significant impact on the recovery process which we are currently witnessing.”

On the private investment cycle, Sitharaman said that in September 2019, the government had reduced the corporate tax rate but investments could not happen because of the pandemic.

“With post-Covid reset happening, the emphasis has to be on adoption of data-driven manufacturing models through ploughing greater investments in these models."



Advertisement
Advertisement
Advertisement
 
 
 
Copyright © 2020 The Telegraph. All rights reserved.