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National News

Feb 08, 2020

Govt working towards goal of reaching 8 percent growth rate, says Finance Minister Nirmala Sitharaman

Tweeted by @AIR
Union Finance Minister Nirmala Sitharaman has said that the General Budget has been prepared to meet the aspirations of the people, improve economic development and provide a caring society. Interacting with the members of trade associations, industrialists, chambers of commerce, banking, insurance and cooperatives on the Union Budget in Chennai today, Ms Sitharaman said, it is the objective of the Government to keep everyone in the loop even as Budget was to be passed in Parliament. She said that this was the longest period for the preparation of the budget to include all the stakeholders into consideration. The Minister pointed out that 16 salient points were taken from the various stakeholders of rural development and agriculture alone when the budget was being prepared.

Listing out the various achievements of the Government in improving the economy, Ms Sitharaman assured that the government is working towards the goal of reaching an eight percent growth rate.

Referring to the increase in investments, the Minister said that foreign direct investments have increased to the maximum level and foreign exchange reserves were intact. She said, introducing a new system on Income Tax was a new thought to ease the complications in filing tax returns. She also told that utmost care would be given to entrepreneurs of the Micro, Small and Medium Enterprises and explained that the Ministry of Finance would be ready to help in cases where loans were denied by banks to those who avail loans. She said that the Ministry would be launching a separate cell to address the issues with regard to the MSMEs.

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