PM Modi holds meeting to discuss interventions in financial sector, structural reforms to boost growth

Prime Minister Narendra Modi on Saturday held a meeting to discuss strategies to discuss interventions in the financial sector as well as structural reforms to spur growth and welfare in the current context, said Prime Minister's Office (PMO).

At a meeting with Finance Minister and officials, PM Modi discussed strategies and interventions to support MSMEs and farmers, enhance liquidity and strengthen credit flows.

The Prime Minister discussed ways and means to ensure financial stability and measures taken to enable businesses to recover quickly from impacts.

Dwelling on the issue of welfare of workers and the common man, PM Modi pointed out the need to generate gainful employment opportunities by helping businesses overcome difficulties due to disruptions caused by COVID-19.

PM Modi also stressed on the need to strengthen major structural reforms undertaken in the past and new structural reforms in the areas of corporate governance, credit markets and infrastructure sectors were also discussed.

He further emphasised the need to take speedy measures to commence work on new infrastructure projects and speed up works in the infrastructure sector so as to make up for the time lost in COVID-19.

He wanted the projects taken up under the National Infrastructure Pipeline to be reviewed at the highest level frequently so as to avoid time delays and enable the creation of jobs.

It was also discussed that the reform initiatives undertaken by the various Ministries should continue unabated and the action should be taken in a time-bound manner to remove any obstacles to investment flows and capital formation.

The meeting was attended by the Home Minister Amit Shah, Finance Minister Nirmala Sitharaman, Secretaries of the Ministry of Finance along with senior officials of the Government of India.

( With inputs from ANI )