The impact of the government's economic reforms is being seen: Nirmala Sitharaman

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New Delhi, December 13, 2019 Friday

Opposition has been constantly criticizing the Modi government for the massive slowdown in the economy. Now chief economic adviser Krishnamurti Subramaniam discussed the roadmap to make the country's economy worth $ 5 million and said that the effect of economic reforms by the government was being seen.

In the wake of the dire recession, Finance Minister Nirmala Sitharaman called a press conference on Friday in which the chief economic adviser, Krishnamurti Subramanian, highlighted the measures taken so far to boost the economy.

Finance Minister Nirmala Sitharaman may announce more measures to boost the economy. In the second quarter of the current fiscal, the country's GDP growth rate has fallen to 4.5 per cent, which is at the lowest level in six and a half years.

In a presentation by Chief Economic Adviser Krishnamurti, the central government showed that the government has taken several steps to increase consumption so that it can accelerate the growth of the economy.

He said that in order to increase consumption, the government has made every effort to encourage retail loans to NBFCs and HFCs.

Parcel Credit Guarantee Scheme has been introduced for NBFC and HFCN. Government has also given PSU booster dose of up to Rs. 61000.

Krishnamurti said that according to the Reserve Bank's suggestion, all the government banks have launched a repo rate link loan product. General Chat Chat Lounge

The chief economic adviser has also released on the measures taken to invest. He said that continuous liberalization in the business is being encouraged. As a result, direct investment (FDI) of $ 35 billion has been achieved in 2019.

While the government has taken steps to complete the deferred housing project and the Rs 25,000 crore fund has been approved. At the same time, the government has taken several steps to encourage the banks to make honest decisions.

These efforts by the government have increased foreign investment, and a direct example of this is the direct investment of $ 35 billion in fiscal year 2019-20. That was $ 31 billion last year, Subramanian said, adding that foreign investors are seeing India as an investor-friendly country.

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