CHENNAI: Finance Minister Niramala Sitharaman on Monday said that the ministry will conduct a special drive from October 15 to ensure credit to those who need it.
Addressing CII members here in a closed door meeting, the Finance Minister said liquidity is no longer a major concern, and that the Bank-NBFC (Non-Banking Financial Company -MFI (Microfinance) channel has been de-clogged. She said the disinvestment plan was on track.
The government has a disinvestment target of 1.75 trillion rupees (about $24 billion). She further shared that the Development Finance Institution announced in the budget would be operational soon.
The Finance Minister also said that trust between government and Industry is critical to leverage opportunities created by the pandemic and it can take India one generation ahead.
She emphasised on the trust that the government reposes in the industry and said this trust is also reflected in the government’s actions.
Welcoming continuous feedback and inputs from the industry, the Finance Minister said that the ongoing dialogues with the industry have enabled the government to take a series of actions, as the pandemic situation evolved.
On the government’s strategy for handling the pandemic, she said that on one hand, the focus is on ramping up vaccination as that was a big protection against the pandemic.
On the other hand, the Government is working on ramping up health infrastructure, including in the Tier-2 and Tier-3 cities, by supporting the private sector, she added.