Latest measures taken by govt will stimulate investments, give push to GDP progress in coming months, says Venkaiah Naidu
New Delhi: Vice President M Venkaiah Naidu on Monday exuded confidence that current measures taken by the federal government will simulate investments, entice capital flows and provides a push to GDP progress within the coming months.
The feedback on the 21ST Assocham JRD Tata Memorial Lecture comes within the wake of India’s GDP slowing all the way down to a six-year low of 5 p.c within the first quarter of the present fiscal and high-frequency indicators like auto gross sales displaying muted efficiency.
Naidu mentioned JRD Tata was not solely a doyen of the Indian trade but additionally a visionary chief who foresaw a rising India and contributed to nation constructing in lots of exceptional methods.
“It is a matter of great pride for us that our nation is rising in stature in various fields—be it economic, geo-political influence, defence, sports, science, IT and space technology,” he mentioned.
The theme of the lecture was ‘Rising India-Power to Power’.
“As far as economy is concerned, I am quite confident that the recent measures taken by the Government of India will simulate investments, attract capital flows and give a push to GDP growth in the coming months,” the Vice President mentioned.
With the federal government dedicated to pursuing varied reforms, India has the potential to emerge as one of many main economies within the subsequent 10 years, he added.
Amid slowdown in financial actions, the federal government has unveiled a bunch of measures, together with important discount in company tax, particular fund for reinforcing the housing sector, steps to pump in liquidity within the NBFC sector, amongst others.
Naidu mentioned the basics of the Indian financial system are robust and the nation continues to be among the many quickest rising main economies of the world.
“The right kind of environment has been created for doing business. I call upon the industry leaders to make best use of the opportunities,” he mentioned.
In his speech, Naidu pressured that rising India ought to imply the rise within the residing requirements of each Indian.
“Not only should there be greater ease of doing business but there should be greater ‘ease of living’ as well,” he mentioned, and added India will rise provided that every Indian rises.
Referring to the federal government’s flagship Jan Dhan Yojana, Naidu referred to as upon the non-public sector to work with the federal government, monetary establishments and NGOs to convey monetary literacy to the lots.
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