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Letter to BS: Measures by Sitharaman welcome, but more would be needed

That the government is becoming responsive to the needs and demands of the industry is a great change

Business Standard 

Union Minister for Finance and Corporate Affairs Nirmala Sitharaman during a press conference in Delhi (Photo- Sanjay K Sharma)
Union Minister for Finance and Corporate Affairs Nirmala Sitharaman during a press conference in Delhi (Photo- Sanjay K Sharma)

This refers to the editorial “A first step to revival” (August 26). The measures by the FM are not merely welcome but are sweet music to the ears of all businesses and industry — big and small. The government has done an admirable job; the ball is now squarely in the industry’s court and it is for them to kick it right and hard. We always need — and ask for — more but the announcements made on Friday offer huge opportunities to all commercial activity in the country.

That the government is becoming responsive to the needs and demands of the industry is a great change. The presentation by the Minister of Finance, (pictured), was very lucid as it talked of some concrete measures to provide an impetus to the ease of doing business. The government’s readiness to respond and react is indeed a huge assurance that they are willing to go even further to understand the genuine problems of the industry and endeavour to make all reasonable changes to solve these. You have beautifully summed that up, when you write "the government has emerged from a state of denial and recognised that the Indian economy faces serious problems".

There is no doubt that deeper structural questions still remain unaddressed. Let the industry first respond to a lot that is already on offer and I am sure the government will also attend to the issues of raising productivity and investment to a higher level. Having shown its commitment to addressing the economic slowdown — as you have rightly summed up — it is more than likely that the government will follow through on structural reform.

Krishan Kalra, Gurugram


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First Published: Mon, August 26 2019. 21:34 IST
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