Government revived the economy after coming into power in 2014, says FM Nirmala Sitharaman
Finance Minister Nirmala Sitharaman today said NDA government has revived the economy and removed the undergrowth after coming into power in 2014. Addressing the gathering during the Finance Ministry’s Iconic Week celebrations by the Department of Economic Affairs and SEBI in New Delhi, the Minister said corporate tax was reduced, and economy was digitised and formalised by this government.
She said as a result, India has faced and came out of all its challenges in the past 75 years. The Minister added that digitisation has led to a large number of innovation, including UPI. She gave the example of COWIN platform and called it unique.
Speaking at the function, Chief Economic Adviser Anantha Nageswaran said, India’s growth to enhance once cloud of pandemic and geopolitical conflict recedes.
The CEA said India is right now in a situation where the economy faces considerable amount of challenges both from global macro monetary policies and political developments. He said, the impact of structural reforms, like GST and IBC, will help boost India’s growth.
The CEA said, this year India will be facing challenges of managing a sustainably high growth, moderating inflation, keeping fiscal deficit under balance and also ensuring that the external value of the Indian rupee remains same.
Finance Minister launched Netra portal and mobile App, which will track and monitor 600 projects under line of credit with the assistance of more than 2.5 lakh crore rupees.
