NEW DELHI: The government, which is facing criticism over the ongoing slowdown in the economy, said it is taking necessary steps to deal with it. In a meeting with industry leaders on Friday, Finance Minister Nirmala Sitharaman said that both the government and the RBI are working together in this direction. Addressing the top industry people at the CII National Council meeting, Sitharaman said that from next week, she will meet in different parts of the country to address issues and grievances related to tax harassment.
The Finance Minister said that with some restraint, India is still the fastest-growing major economy and the government and RBI are working together to push it forward, he said, adding that the ecosystem will help stimulate investments. "We (RBI and the government) are trying to boost the economy together," he said, adding that there is an atmosphere of certainty and harmony between the RBI and the government.
Sitharaman said that in no way does the government want to put the industry in trouble. Auto sales and core sectors are constantly pointing to a slowdown. Further, the problems of the NBFCs sector are becoming acute. The finance minister also assured the industry that the government would reconsider the penal provisions regarding mandatory investment by companies for Corporate Social Responsibility (CSR).
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Apart from Delhi, the government will also sell cheaper ACs in these cities
