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Finance minister Nirmala Sitharaman. (Photo: Ramesh Pathania/Mint)
Finance minister Nirmala Sitharaman. (Photo: Ramesh Pathania/Mint)

FM assures industry of removing pain points

The heads of industries also urged the finance minister to consider ways to take forward agricultural reforms to the state level, including strengthening of the Agriculture Produce Marketing Committees

Finance minister Nirmala Sitharaman assured business leaders that the government will address issues that companies may face even after the government’s recent fiscal stimulus measures.

“We felt very reassured," said a senior representative who attended a Confederation of Indian Industry (CII) meeting with the finance minister. “She recognised that there is a lot of pain there and we will keep the dialogue open."

The business leaders highlighted that certain industries like hospitality and aviation have not got much relief though they are among the worst affected. Similarly, the plight of the construction sector—another badly affected sector—was also discussed.

The heads of industries also urged the finance minister to consider ways to take forward agricultural reforms to the state level, including strengthening of the Agriculture Produce Marketing Committees.

Industry representatives also discussed issues relating to working capital needs of businesses.

Sitharaman also explained the rationale for the new definition for small businesses and power sector reforms.

The subject of farm loans to avoid rural distress was also discussed, the industry representative cited earlier said. “There were many people raising questions and she answered all of them."

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