Nirmala Sitharaman to hold meet with CMs, FMs on November 15

: Union Finance Minister Nirmala Sitharaman will hold a meeting with Chief Ministers and Finance Ministers of all states and Administrators of Union Territories on November 15 on stepping up investment, infrastructure and growth in the country as the economy has been on a growth path, post the COVID-19 second wave.

The conference will be held in virtual mode from 3 PM to 6 PM on November 15.

"It is reassuring to note that the economy has been growing significantly since the second wave of pandemic and there are signs of substantial activity across all sectors," Sitharaman said in a letter to the Chief Ministers and Administrators.

She said there was a general positivity among investors and, "if we capitalise on this rising optimism, we will be able to scale up investment in states, setting off a multiplier effect on employment growth and revenues."

The interaction, she added, would focus on state-specific economy related challenges and strengths, along with steps required for coordination between the state governments and the Government of India to step up investment, infrastructure and growth.

In a corresponding letter to the Chief Secretaries, Union Department of Economic Affairs Secretary Ajay Seth sought inputs from the states to pave the way forward to ensure fiscal sustenance.

The Secretary, however, asked the states not to raise GST related issues at the videoconference as an "alternative forum of Centre-State Council already exists".