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National News

Dec 13, 2019

Will continue to address problem of industries: FM Sitharaman

Union Finance Minister Nirmala Sitharaman has said that government is working on economic issues and will continue to address the problem of the industries.

She was briefing media in New Delhi today. On the Insolvency and Bankruptcy Code, She said, the government has been very quick-footed on the issue. Ms Sitharaman said, Pre-budgetary consultations are beginning from Monday.

In a presentation, Chief Economic Adviser, Krishnamurti Subramanian said, the continued liberalization has resulted in record Foreign Direct Investment inflows of 35 billion dollars in the first half of the current year.

He said, Government has also carried out the disinvestment in non-priority areas where competitive markets have come of age.  He said, capitalization of public sector banks and giving last-mile funding to realty projects were announced.

Revenue Secretary Ajay Bhushan Pandey said, Integrated-GST refund of 38,988 crore rupees has been released so far this fiscal as compared to 56,057 crore rupees in full 2018-19 financial year.

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