Sitharaman to meet CMs, state FMs; discuss reform-focused business climate | Finance Minister to hold meeting with Chief Ministers, Finance Ministers of states on Monday regarding economic matters

Photo: PTI

Finance Minister to hold meeting with Chief Ministers, Finance Ministers of states on Monday regarding economic matters

New Delhi: Union Finance Minister Nirmala Sitharaman will hold a meeting with the Chief Ministers, Finance Ministers of the states on Monday. The meeting will discuss ways to create a reform-oriented business environment and attract investments, which can boost the country’s growth. The Finance Ministry tweeted that Ministers of State for Finance Pankaj Chaudhary and Bhagwat Karad will also participate in this virtual meeting to be held on November 15. Apart from this, secretaries of various ministries of the central government, chief secretaries of states and finance secretaries will also attend the meeting.

“The topic of discussion in the meeting will be to create a conducive ecosystem for increasing investments,” the ministry said. Apart from this, measures will be discussed in the meeting to boost growth, reforms, investment promotion and creation of a reform-based business environment. between the efforts of

Earlier, Union Finance Secretary TV Somanathan had said last week that the focus of discussion would be the state level issues, opportunities and challenges through which we can achieve higher investment and growth. The secretary had said, “The government is incurring capital expenditure and there is a positive response from the private sector, but it is yet to translate into real investment in a big way.

However, capital expenditure shows the potential for massive investment.” In the last financial year 2020-21, the Indian economy contracted by 7.3 percent due to the Kovid-19 pandemic. The Indian economy grew at the rate of 20.1 percent in the first April-June quarter of the current financial year. Foreign direct investment (FDI) of $64 billion has come into the country in the first four months of the current financial year.

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