Mumbai: Finance Minister Nirmala Sitharaman said India Inc. A step has been taken on Tuesday to enable the industry to meet its needs funding need from Market instead of this banks. Among alternative financing measures, the government is considering allowing insurance bond Instead of a bank guarantee, a senior government official said.
In his first visit to Mumbai after the second wave of the pandemic, Finance Minister Addressed industry leaders in the Confederation of Indian Industry (CII) on Tuesday evening. Later, he attended a dinner meeting with industry leaders including Tata Group Chairman N Chandrasekaran.
NS FM He said the operation of the new Development Finance Institution would further reduce industry dependence on banks, which would handle long-term loans and also provide competitiveness to banks. The FM emphasized the need for the government and industry to work together to “build India’s own equity capital”.
The meeting was attended by industry leaders including veteran banker Uday Kotak, Bajaj Finserv MD Sanjeev Bajaj and Tata Steel CEO and CII Chairman TV Narendran. Industry members demanded clarity on issues related to taxation and ease of doing business of startups. Narendran in his speech called for an increase in government spending as it was an immediate source of demand.
Finance Secretary and Expenditure Secretary TV Somanathan in his address said there is a need for a “behavioral change” in the trend of appeals against arbitration awards. Revenue Secretary Tarun Bajaj said the government is working on tax related issues of startups and has sought inputs from the industry.
In his first visit to Mumbai after the second wave of the pandemic, Finance Minister Addressed industry leaders in the Confederation of Indian Industry (CII) on Tuesday evening. Later, he attended a dinner meeting with industry leaders including Tata Group Chairman N Chandrasekaran.
NS FM He said the operation of the new Development Finance Institution would further reduce industry dependence on banks, which would handle long-term loans and also provide competitiveness to banks. The FM emphasized the need for the government and industry to work together to “build India’s own equity capital”.
The meeting was attended by industry leaders including veteran banker Uday Kotak, Bajaj Finserv MD Sanjeev Bajaj and Tata Steel CEO and CII Chairman TV Narendran. Industry members demanded clarity on issues related to taxation and ease of doing business of startups. Narendran in his speech called for an increase in government spending as it was an immediate source of demand.
Finance Secretary and Expenditure Secretary TV Somanathan in his address said there is a need for a “behavioral change” in the trend of appeals against arbitration awards. Revenue Secretary Tarun Bajaj said the government is working on tax related issues of startups and has sought inputs from the industry.
.