: Centre aims at sustained recovery #finance #StockMarketNEWS #Business Mumbai: Union Finance Minister Nirmala Sitharaman on Monday said the government wants a sustained recovery and the budget proposals

Posted in: #finance #StockMarketNEWS #Business

Centre aims at sustained recovery #finance #StockMarketNEWS #Business
Mumbai: Union Finance Minister Nirmala Sitharaman on Monday said the government wants a sustained recovery and the budget proposals on infrastructure building are an attempt to create the multiplier effect to help the economy.

Speaking at a post-budget interaction with the industry in the financial capital of the country, Sitharaman said the budget has been prepared at a time when the economy is coming out of the impact of the pandemic.

“A sustained recovery is what we would want. The budget has growth revival as a priority along with messages for sustainability as a priority and on predictable tax regimen,�? she said.

Stating that technology has helped the government make payments to the affected people during the pandemic, Sitharaman said it is also looking at how digital solutions can be deployed in the education and the farming sectors.

The government wants to push innovation and the support to help the startups will continue, Sitharaman added. She emphasized that trust and confidence in the financial markets are critical to gain traction among investors.

During an interaction with leaders of the financial and capital markets here, Sitharaman also asked them to explore ways to further strengthen the sector, according to an official release.

The Finance Minister was interacting with various stakeholders as part of her two-day post-Budget outreach programme being held in the country’s financial capital, starting Monday. During the interactions, various ideas and suggestions related to investor awareness, KYC norms, mutual fund penetration, deepening of corporate bonds, commodity derivatives and effectiveness of the market system were discussed in detail.

The participants in the meeting included heads of the stock exchanges, clearing corporations, depositories, mutual fund industry, stock brokerage firms, merchant bankers and credit rating agencies.

Earlier in the day, Sitharaman interacted with industry leaders, large taxpayers and professionals.