New Delhi: Enabling policies and proactive steps taken by the government – including corporate tax cuts and digitization of the economy – helped the country tide over the unprecedented situation caused by the pandemic, Finance Minister Nirmala Sitharaman said on Wednesday.
Speaking at the ‘India’s Economic Journey@75’ event being jointly organized by the Department of Economic Affairs and SEBI nectar festival of freedom Celebrating the prestigious week, he said that India, with its strong fundamentals, has from time to time faced challenges and emerged out of it.
The minister said that various steps taken by the government since 2014 helped the economy and people afloat in difficult times and its targeted approach helped citizens during the pandemic.
“Even after pulling out the economy, removing all the under-growth (post 2014), you still had challenges and in a way three major steps were taken – reducing corporate tax, formalization/digitization of the economy, IBC Code, GST – The heavy lifting prepared us for a situation that no one could have imagined,” Sitharaman said.
He said that in the last 2 years, despite COVID, Indian retail investors have found online means to access the stock market and SEBI has a role to play in investor education.
Sitharaman stressed that the government looks at a targeted approach of providing assistance and quickly takes inputs from the ground.
Speaking at the ‘India’s Economic Journey@75’ event being jointly organized by the Department of Economic Affairs and SEBI nectar festival of freedom Celebrating the prestigious week, he said that India, with its strong fundamentals, has from time to time faced challenges and emerged out of it.
The minister said that various steps taken by the government since 2014 helped the economy and people afloat in difficult times and its targeted approach helped citizens during the pandemic.
“Even after pulling out the economy, removing all the under-growth (post 2014), you still had challenges and in a way three major steps were taken – reducing corporate tax, formalization/digitization of the economy, IBC Code, GST – The heavy lifting prepared us for a situation that no one could have imagined,” Sitharaman said.
He said that in the last 2 years, despite COVID, Indian retail investors have found online means to access the stock market and SEBI has a role to play in investor education.
Sitharaman stressed that the government looks at a targeted approach of providing assistance and quickly takes inputs from the ground.