Speed Post News Network
New Delhi : Prime Minister Narendra Modi on May 2, 2020, evening, held a meeting to discuss strategies for interventions in the financial sector as well structural reforms to spur growth and welfare in the present context. At a meeting with Finance Minister and officials, the PM discussed strategies and interventions to support MSMEs and farmers, enhance liquidity and strengthen credit flows. He also discussed ways to ensure financial stability in the wake of COVID-19 and measures taken to enable businesses to recover quickly from its impact.
Dwelling on the issue of welfare of workers and the common man, the PM pointed out the need to generate gainful employment opportunities by helping businesses overcome difficulties due to disruptions caused by COVID-19. He also stressed on the need to strengthen major structural reforms undertaken in the past and new structural reforms in the areas of corporate governance, credit markets and infrastructure sectors were also discussed.
The Prime Minister stressed the need to take speedy measures to commence work on new infrastructure projects and speed up works in the infrastructure sector to make up for the time lost due to COVID-19. He wanted the projects taken up under the National Infrastructure Pipeline be reviewed at the highest level frequently to avoid time delays and enable creation of jobs, according to a PIB release.
It was also discussed that the reform initiatives undertaken by the various Ministries should continue unabated and action should be taken in a time bound manner to remove any obstacles in investment flows and capital formation. The meeting was attended by the Home Minister, Finance Minister, Secretaries of the Ministry of Finance along with senior officials of the Government of India.