FM Sitharaman says govt ready to do everything required to revive economy

By: |
August 12, 2021 5:05 PM

There are indicators which suggest that the economy is buoyant and recovery is taking place post lifting of COVID-19 restrictions by states, she said while addressing the CII Annual Meeting 2021.

While the average recovery from toxic assets was to the tune of 39% of creditors’ claims until March 2021, in some cases, the haircuts were as high as 95%.While the average recovery from toxic assets was to the tune of 39% of creditors’ claims until March 2021, in some cases, the haircuts were as high as 95%.

Finance Minister Nirmala Sitharaman on Thursday assured India Inc that the government is ready to do everything required to revive and support economic growth.

There are indicators which suggest that the economy is buoyant and recovery is taking place post lifting of COVID-19 restrictions by states, she said while addressing the CII Annual Meeting 2021.

She further said 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.

Do you know What is India expected to grow 10 pc during current fiscal: NCAER Director General Poonam Gupt,FinMin releases Rs 9,871 cr grant to 17 state, Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1RBI to remain in liquidity absorption mode: Deputy governor Michael Debabrata Patra
2High Interest: Rs 6,000-crore investments for white goods PLI
3Prospects brightening for economy as 2nd COVID wave wanes: RBI bulletin