FM Sitharaman press conference HIGHLIGHTS: Govt says reforms showing impact
CEA Krishnamurthy Subramanian said reform measures included corporate tax cuts to improve risk-return of companies
 "Nirmala Sitharaman")
Finance Minister Nirmala Sitharaman. | Photo: PTI
Chief Economic Advisor Krishnamurthy Subramanian on Friday presented the steps taken by the government in the past few months to pull the economy out of a six-year period of low growth.
Subramanian said that the government is focusing on increasing consumption to boost economic growth and that measures included corporate tax cuts to improve risk-return of companies.
India’s economy grew at its slowest pace in over six years in the September quarter, held back by weak manufacturing, falling consumer demand and private investment, and a drop in exports due to a global slowdown.
The government earlier in December announced infrastructure projects as part of a plan to invest Rs 100 trillion ($1.39 trillion) in the sector. Later, it approved privatising state-owned oil major BPCL and Shipping Corporation of India, along with stake sales in three other companies
4:35 PM
Government's tax revenue position to be clear in the next few weeks, says Finance Mnister
4:21 PM
Direct tax refunds
Rs 1.57 trillion direct tax refunded this year vs Rs 1.23 trillion last year, says Revenue Secretary on steps taken to boost consumption in economy
4:17 PM
Tax reforms
Revenue Secretary Ajay Bhushan Pandey lists tax measures to help economy, says almost Rs 39,000 crore of IGST refund done till date in 2019-2020.
4:07 PM
National market for financial instruments
One national market for financial instruments set up by rationalising stamp duty: Chief economic advisor Subramanian
3:53 PM
FDI worth $35 billion
FDI worth $35 in first half of FY20 shows impact of reform measures. Investors see India as a destination--they are putting in money: Chief economic advisor Krishnamurthy Subramanian.
3:50 PM
Bills cleared
Govt has cleared bills amounting to Rs 12,500 crore: Chief economic advisor Krishnamurthy Subramanian.
3:45 PM
CEA Krishnamurthy Subramanian lists reforms
Chief economic advisor Krishnamurthy Subramanian gives presentation on economic reforms impact. Subramanian speaks about corporate tax cuts, government capex expansion.
3:45 PM
Results have started showing: FM
Sitharaman says will list legislature measures taken during Winter Session of Parliament. "Results have started showing for the (economic) reforms we have taken," says FM Sitharaman.
3:15 PM
Centre will honour GST committment to states: Sitharaman
Sitharaman on Thursday said the central government will honour its commitment to give states their share of the Goods and Services Tax (GST) but did not give a deadline. This monthly compensation was to be paid within two months but states haven't received any such amount since August 2019.
3:08 PM
DBS cuts its India growth forecast
Singapore's DBS Banking group cuts India's GDP growth forecast for this fiscal to 5 per cent from 5.5 per cent earlier and said that it will be a "slow climb to recovery" for the economy. Weak growth has impacted revenue growth, compounding worries over an already weaker run-rate for tax revenues, said DBS in a report.
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Dec 13 2019 | 2:44 PM IST
