To overcome the economic slowdown, the Modi government at the center appears to be in action mode. Constant decisions are being taken by the government on the economic front. At the same time, the round of meetings under the leadership of Finance Minister Nirmala Sitharaman is also going on. Under this, on Friday, Nirmala Sitharaman held a meeting with finance secretaries and financial advisors of key ministries.
Speaking to the media after the meeting, Nirmala Sitharaman said that the Finance Ministry is considering the issue of releasing funds to various ministries on time. The Ministry of Finance will ensure that every ministry receives money on time. Please tell that the money of the expenditure of the ministries is released by the Finance Ministry. Although the finance ministry is not able to release this money on time. However, this decision is expected to speed up the functioning of various ministries.
After the meeting, the expenditure secretary Girish Chandra Murmu said that we request the secretaries to monitor the agencies that deal with the expenditure. He further said that we will ensure that there is no delay if we release the monthly and quarterly funds.
What happened at Thursday's press conference?
Before the press conference on Thursday, Finance Minister Nirmala Sitharaman had met the heads of different banks in the private sector. Talking to the media after this meeting, the Finance Minister said, "This meeting was good and strong, in which I heard good and positive things." According to Sitharaman, the economic slowdown is now nearing its end and the economy will gain momentum due to the upcoming festive season.
Which sector has got relief?
In the last one month, Finance Minister Nirmala Sitharaman has given relief to different sectors through a press conference. On Friday, corporate tax cuts were announced, while new investors were also exempted. Earlier, he had announced a fund of Rs 10,000 crore to accelerate the construction of housing sector flats.
At the same time, to promote exports, many concessions were also said. Apart from this, Nirmala Sitharaman also held a press conference to give relief to the banking sector. Then they have announced the merger of 10 state-run banks, including PNB. Not only this, a loan fair has also been announced in different districts of the country.
Minor Relief to auto sector
However, the auto sector undergoing economic slowdown has not been relieved as expected. Actually, the auto sector is constantly demanding GST reduction, but the government did not take any major decision regarding this in the GST Council meeting on Friday. At the same time, no positive signs were given.
