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FM Nirmala Sitharaman speaks on state of Indian economy

Finance Minister Nirmala Sitharaman on Friday addressed some contentious issues pertaining to the state of economy – ranging from spiraling onion prices to bolstering employment opportunities, GST rates and much more.

Finance Minister Nirmala Sitharaman, Chief Economic Adviser K V Subramanian and other top officials of the finance ministry addressed a press conference on economic measures undertaken by the government.

Finance Minister Nirmala Sitharaman stressed that the government will intervene on economic issues and those relating to the industry as and when requirSpeaking on the issue of Onion Prices, Finance Minister said that  Group of ministers are reviewing the situation on how to further take up the import related issues of onion.

Speaking at the press conference Chief economic advisor Krishnamurthy Subramanian said that government’s economic reforms are showing its impact. On Employment front, CEA said that there has been a significant change in the nature of employment in the country between 2011-12 to 2017-18.

Chief economic advisor said that proportion of regular salaried workers in the country has gone up by 5 % while that of casual workers has come down by 5%. Revenue Secretary Ajay Bhushan Pandey has said that the focus of the government has been on simplification.

Revenue secretary said that it will be compulsory for all taxpayers with turnover of more than Rs 100 crore to generate E-invoice for all B2B transactions. Government has taken several reforms in last few months in order to boost the economy and Evidence of which is actually seen in record FDI inflows in the country.



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