Newsinc24 Team Finance Minister Nirmala Sitharaman has said that the momentum of economic reforms will continue to make India a hotspot of global investment. Addressing a conference organised by CII on Monday, Ms Sitharaman said Prime Minister Narendra Modi has not lost any opportunity to take deep reforms at this time of pandemic. She said, Modi also undertook those kinds of reforms which have not seen the light of the day over the decades.
The Finance Minister said, several more active reforms related steps are being taken up to ensure that the reform momentum continues even during the pandemic. She said, the financial sector is being professionalised and the government will continue with disinvestment. She said the Indian economy is going through a paradigm shift and most business, big and small, are going through a “reset exercise” and added that the government is actively taking steps to aid the “reset” process.
On reforms in taxation system, the Finance Minister said the use of technology, such as faceless assessment, has eased the tax filing process. On corporate tax, Ms Sithraman said that the reduction in corporate tax clearly shows that our intent is to show immediate benefits for the MNCs and any large companies or small companies.
