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The minister of finance, Nirmala Sitharaman assured the entrepreneurs that the government is going to address the problems that companies may face even after the government’s recent fiscal stimulus measures.
“We feel very calm,” said a representative, who attended the Confederation of Indian Industry (CII) meeting with the minister of finance. “She recognized that there is a great amount of pain and we’re going to keep the dialogue open.”
The business leaders highlighted that certain industries, like hospitality and aviation do not have a lot of relief despite the fact that they are among the most affected. In the same way, the situation of the construction sector—another badly affected sector, was also discussed.
The heads of the industries also urged the finance minister to consider how to carry forward reforms in the agricultural sector at the state level, including the strengthening of the Agriculture produce Marketing Committees.
Industry representatives also discussed issues related to working capital needs of the companies.
Sitharaman also explained the basics of the new definition for small enterprises and the power sector reforms.
The issue of farm loans to prevent rural distress was also discussed, the industry representative cited above. “There are a lot of people that poses questions and she answered all of them.”
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