The association, in its letter addressed to the FM, requested Sitharaman to consider "the pain and agony" the industry is going through due to "extreme taxation and also GST being levied at 18%.
Will get back all money taken away from banks as govt actively pursuing cases of loan defaulters: FM Nirmala Sitharaman
FM Nirmala Sitharaman said she will ensure more banking activities take place in J&K and credit help to the people in setting their businesses.
Apart from the secretaries, ministers of state for finance Pankaj Chaudhary and Bhagwat Kishanrao Karad will also join the discussions, according to a government statement.
Talking about India's dependence on imports, even on essential items like PPE kits, Sitharaman said the private sector has to walk the extra mile to support growth momentum.
Finance Secretary TV Somnathan, however, assured that the frontloading to devolution does not mean states are short of cash and most of the states maintain positive cash balance.
The meeting comes in the backdrop of strong economic recovery post the two COVID waves, and push by the central government to increase capital expenditure.
Economic Affairs Secretary Ajay Seth said the discussion during the meeting will focus on easing norms on land and water use for attracting private investments.
The interaction to focus on state-specific economy-related challenges and strengths, along with steps required for coordination between the state governments and the Government of India.
The two-day conference, beginning November 17, would see participation from all public sector banks and financial institutions.
Puneeth Rajkumar passed away on Friday, October 29, 2021, after suffering from a heart attack. He was admitted to the Intensive Care Unit (ICU) at Vikram Hospital in Bengaluru.