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Home / India News / In her 4th address on economic package, FM Nirmala Sitharaman hails PM Modi as ‘great reformer’

In her 4th address on economic package, FM Nirmala Sitharaman hails PM Modi as ‘great reformer’

Sitharaman said that the fourth day of the announcements on the stimulus package will focus primarily on “structural reforms”.

india Updated: May 16, 2020 18:15 IST
hindustantimes.com | Edited by Sparshita Saxena
hindustantimes.com | Edited by Sparshita Saxena
Nirmala Sitharaman, India's finance minister, wears a protective mask as she speaks during a news conference in New Delhi, India, on Wednesday, May 13, 2020.
Nirmala Sitharaman, India's finance minister, wears a protective mask as she speaks during a news conference in New Delhi, India, on Wednesday, May 13, 2020. (Bloomberg)

Union Finance Minister Nirmala Sitharaman addressed the media on Saturday afternoon in the fourth phase of announcement on government’s Rs 20 lakh crore economic stimulus package.

Sitharaman said that the fourth day of the announcements on the stimulus package will focus primarily on “structural reforms”.

The finance minister opened her address by hailing Prime Minister Narendra Modi as a “great reformer” who has had a strong track record of “taking up deep, systemic reforms,” she said.

Sitharaman recalled some of the notable reforms led by PM Modi in the last two terms.

Also read: Govt to spend Rs 50,000 crore to develop coal sector, says Nirmala Sitharaman

“The direct benefit transfer (DBT) has become very useful for us to be able to directly give money in the hands of people. GST, which was pending for a very long time. All states were taken on-board. GST brought in ‘one nation-one market,” Sitharaman noted.

The finance minister also said that several steps have been taken under PM Modi’s leadership for the ease of doing business, “so that India becomes an attractive destination for investment,” she said.

Sitharaman said that over the days, along with her team, she has been announcing the various steps that the government wants to take to give stimulus to the economy and help various sectors.

“We have made several announcements and introduced many measures. We also made sure people don’t have to struggle to file taxes and have given boost to the MSMEs,” the finance minister said.

Sitharaman said that today’s announcements will focus on structural reforms in 8 sectors - coal, minerals defence production, airspace management, MROs power distribution companies, space sectors, atomic energy.

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