To increase the consumption need in the market the centre will announce two big steps in coming days to give momentum to the industry said Union Finance Ministry ‘Nirmala Sitharaman’ on Thursday.
She said in a press conference that the government planned to increase spending and announced measures to curb sluggishness in the automobile industry.
Nirmala Sitharaman also said that authorities have been instructed to clear all the pending GST refunds within next 30 days.
However, the minister also did not specify the two steps to be taken by the government.
She stated that if we compare our economy and growth globally then we are still the fastest growing economy in the world, although the consumption market needs a push.
The government has planned to increase public spending in infrastructure to boost the economy, Finance Ministry said.
She said that the government plan to utilise Rs. 1.76 lakh crore received from RBI but nothing has been decided yet.
Sitharaman targeted the Congress for indulging in massive corruption and scandals to run the economy and said that during its tenure, inflation touched double digits with skyrocketing prices.
Responded to the congress ‘comment on running an “Unfit economy”, She said that opposition party should not comment on the economy being “fit’ or ‘unfit”.
She said, Congress led to country with corruption and scandals.
Sitharaman and her junior minister ‘Anurag Thakur’ had discussions with tax authorities and industry representatives, earlier in a day.
“We have a message to Prime Minister that tax authorities should be facilitator than enforcer. Industry should be facilitated. Entrepreneurs should be respected,” She said.