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Government’s supportive policy, proactive steps have helped India cope with the pandemic: Finance Minister

NEW DELHI: Facilitating government policies and proactive steps – including cutting corporate taxes and digitizing the economy – has helped the country cope with the unprecedented situation arising from the pandemic. Translation, Minister of Finance Nirmala Sitharaman said on Wednesday.
Speaking at the ‘India Economic Journey @ 75’ event, jointly organized by the Ministry of Economy and Sebi as part of the Azadi Ka Amrit Mahotsav Celebrating the iconic week, India, with its strong fundamentals, has periodically faced challenges and risen above it, she said.
The minister said the various steps taken by the government since 2014 have helped keep the economy and people strong during difficult times and the government’s targeted approach during the pandemic has helped. beneficial to the people.
“Even after pulling the economy out, removing all the underperforming economies (after 2014), you still have challenges, and in a way, three main steps have been taken – reducing corporate taxes, formalization/digitization of the economy, IBC codes, GST – the heavy incident that happened has prepared us for a situation that no one could have imagined,” said Sitharaman.
She said that over the past two 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 is looking at a targeted approach of providing support and quickly soliciting opinions from the grassroots.

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