Government has taken continuous efforts for structural reforms in the economy which will make a big difference: FM Sitharaman

Government has taken continuous efforts for structural reforms in the economy which will make a big difference. Even during the challenge of COVID-19 pandemic, it has announced big-time reforms and made major structural changes in agriculture and other sectors.

This was stated by Finance Minister Nirmala Sitharaman while virtually addressing the India Ideas summit of US India Business Council, today.

She said the indicators show green shoots in the Indian economy as power consumption and toll collections have gone up. Bank operations and their transaction of businesses, including digital transactions have increased manifold since the lockdown has been relaxed in the country. The Minister also said the Government stimulus has made a big difference for companies coping with the effects of the lockdown.

Ms Sitharaman said industry, together with government, will ensure a speedy recovery post-pandemic and the Centre has a goal of ensuring a greater level of policy consistency and transparency. She added that the government has given great emphasis on financial inclusion under the leadership of Prime Minister Narendra Modi.

In his address, Commerce and Industry Minister Piyush Goyal said India has been able to face the pandemic much better than the world expected. He said the country has been able to break the COVID - 19 transmission chain and has become self-sufficient in manufacturing masks, sanitisers and ventilators.

Mr Goyal said, the Narendra Modi government has been keen to untangle the levels of business approvals in the country and is also working towards operationalising a genuine single-window clearance system for enterprises. He highlighted the importance of Geographic Information System based land buying service and underscored that through it, the land will be identified for setting up industries in the country.

The Minister also said Atmanirbhar Bharat programme aims to prepare India to work with the world on equal terms. He added that the government wants to offer India as a reliable business partner. Mr Goyal said the government's idea of a self-reliant India is to open the doors of opportunities in the country to globally engage in a symbiotic development.

Besides, Prime Minister Narendra Modi will deliver the keynote address at the India Ideas Summit today. The two-day Summit which began yesterday is being hosted by the US-India Business Council. This year marks the 45th anniversary of the formation of the Council. The theme for this year's India Ideas Summit is 'Building a Better Future'. Prime Minister Narendra Modi will provide perspective on how the US-India Partnership can shape the post-COVID world.

The virtual Summit will witness discussions on areas including India-US cooperation and the future of the relation between the two countries in a post-pandemic world. It will feature high-level presence from Indian and US government policymakers, state-level officials, and thought leaders from business and society.