Next wave of reforms soon, says Nirmala Sitharaman

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Union Finance Minister Nirmala Sitharaman has reiterated the government commitment towards reforms and promised that the next wave of reforms would come soon.

Speaking at The Indian Express `Adda’ in Mumbai on Tuesday, she said the mandate to Modi 2.0 was to bring in the next wave of reforms as the poor numbers in the Upper House played the spoilsport last time.

“We will push forward with those reforms which have missed the bus last time, but won’t miss the bus now. It is not possible for any government, be it at the Centre or in the states, to say give me your vote on nationalism and I do not want to talk about economic issues,” she said.

She said the manufacturing sector competitiveness is still pulled down by “extraneous” factors such as high cost for land, electricity and also changes in land use, which are beyond the ambit of individual companies, but which the government now wants to ease them all.

The Minister also expressed hope that the current headwinds in China would be beneficial for India which has already created a list of potential players to be tapped and brought to the country.

“Everything has a long way to go in terms of becoming actually easy to do business,” she said.

On companies committing new investments and using the space created by the corporate tax cut for deleveraging, she said it is fine for a corporate to use the space for the purposes it wishes and exuded confidence that over the long-term, they will invest.

 

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