Finance Minister Nirmala Sitharaman has said that the industry is on the path of recovery and despite the second wave of corona virus epidemic, several other budget proposals including disinvestment are on track.
Finance Minister Nirmala Sitharaman
Cases of corona virus in the country are increasing rapidly. More than 3 lakh cases have been registered for the second consecutive day.
Despite the growing case of Corona virus, the government is not putting a lockdown on the entire country. Finance Minister Nirmala Sitharaman has said that the industry is on the path of recovery and despite the second wave of corona virus epidemic, several other budget proposals including disinvestment are on track.
Sitharaman said that the government is taking steps to supply medicines and oxygen amidst the second wave of epidemic. He said that the second wave is challenging on many levels but the government is taking decisions. The government has decided to import medical oxygen and increase the supply of medicines.
Have to wait something
The Finance Minister said, we will have to wait for some time and after that we will decide. But activities are happening right now. The industry is on the path of recovery, so I will not do anything in a hurry.
He said that the budget proposals for setting up of Disinvestment and Development Finance Institution (DFI) are in the right direction. Sitharaman said, I had a meeting with the secretaries. All the budget proposals like disinvestment, DFI etc. are on track.
Target to raise 1.75 lakh crore from disinvestment
The government has set a target of raising Rs 1.75 lakh crore by selling stake in public sector companies in the current financial year. These include the privatization of two banks and a government insurance company.
Referring to Prime Minister Narendra Modi’s statement, the Finance Minister said that like 2020, lockdown will not be imposed on a large scale across the country.
No nationwide lockdown will be imposed
Referring to Prime Minister Narendra Modi’s statement, the Finance Minister said that like 2020, lockdown will not be imposed on a large scale across the country.
Local control has been imposed in some parts of the country amid the second wave of epidemic. This is affecting the movement of people and goods.
The Finance Minister said that it is too early to say whether these restrictions will affect India even after this week.
Regarding the India-EU trade agreement, Sitharaman said that the trade agreement with the US and the European Union is important for the government. Negotiations on the Free Trade Agreement between India and the European Union have been halted since May 2013. The talks started in June 2007.
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