INSUBCONTINENT EXCLUSIVE:
measures, thrust on investment in infrastructure, and expanding health sectors programmes like Ayushman Bharat, and a very credible
divestment path for commercially viable companies
The Indian government has provided a lot of schemes for small and medium enterprises, most of which is in the form of liquidity support,
said while responding to a question on her recommendations to Finance Minister Nirmala Sitharaman, ahead of her presentation of the annual
Union Budget on February 1
Companies (NBFCs) to raise capital given the attractiveness of financing conditions at this point, she said
But there might also be a need for the capital support to be provided by the government for public sector enterprises
That has been long on the table which is to improve governance of public sector banks, she said
Observing that there is a need for more public infrastructure spending, she said that the government has expressed an intention to do
Gopinath said.She said that there has to be progress made on the GST (Goods and Services Tax) collections
There seems to be a gap with compliance which is an important area to fix
GST collections surged to an all-time high of over Rs 1.15 lakh crore in December 2020 as economic activities picked up after the lifting of
stringent lockdown restrictions
At Rs 1,15,174 crore, the collections were 10 per cent more than the mop-up in the previous month -- the biggest growth in monthly revenues
Gopinath said that another area that has been long-standing is divestments
very credible divestment path for commercially viable companies is a very important part
On Tuesday, the IMF projected an impressive 11.5 per cent growth rate for India in 2021
While this is attributable to the stronger than expected recovery, Gopinath said India still has some distance to go.She said that due to
COVID-19, India's informal sector, like many parts of the world, has been hit hard along with unemployment in small and medium enterprises,
micro small and medium enterprises.Even if the economy is recovering, these distributional effects have also to be paid close attention to,
Responding to a question on coronavirus, the IMF chief economist said that India moved quickly to put down one of the strictest lockdowns
seen anywhere in the world and it stayed that way for a long time
happened starting the second quarter of the fiscal year and going forward, we are seeing mobility return faster than we had expected and
importantly, despite that increase in mobility, there hasn't been the next wave of infections which is quite different from what you see in
several other parts of the world
cities in India.That could be one reason for it
In terms of overall policy support, India has also overall provided a significant amount
It has tended to use more below the line measures than above the line measures
India, she asserted, has done a lot in terms of making sure there is liquidity in the system providing income in kind and in cash to poor
households, helping small and medium-sized enterprises through liquidity channels.She favoured the extension of these pandemic support
measures that provided to low-income households in terms of cash and kind, the expansion of MANREGA that was done last year
