(ET)
The government has assured India Inc of some “quick action” to jumpstart the sluggish economy, as a delegation of industry captains on Thursday met finance minister Nirmala Sitharaman with a charter of demands.
Industry leaders have sought tax rationalisation, a package for non-banking finance companies (NBFCs), faster transmission of policy rate cuts and relief from harsh penal provisions introduced in the Companies Act for noncompliance with corporate social responsibility (CSR). “It was decided that the government is going to take action very soon to revive the industry. It is a matter of sentiment. We got positive feedback from the finance minister,” said Sajjan Jindal, chairman, JSW Group.
Sitharaman is meeting industry representatives, having interacted with those from public and private banks, micro, small & medium enterprises (MSMEs) and automobiles sector, so far. She will be meeting representatives of the capital markets on Friday, and real estate on Sunday. “We are getting inputs from various sectors and trying to respond so confidence of those sectors is restored,” the minister had said after her meeting with bankers on Monday.
