Treasury Secretary Nirmala Sitharaman said on Friday that the government would take more steps if necessary to go beyond the announcement in the 2020-21 federal budget.
At the "Budget and Beyond" interactive meeting with professionals from asset management, wealth consulting, tax consulting and other related industries, the minister also stated that the 2020-21 budget is a positive for the stock, bond and money markets Impacted budget.
"We are willing to do more if we want to do more than the 2020 budget," Sitaraman said at the meeting. At the meeting, participants made some suggestions to promote economic activity in the country.
The government announced a series of steps in the coalition budget proposed in Parliament on February 1 to expand the country's economic activity as the country faces slowing demand for a variety of reasons.
In the current fiscal year, the country's GDP growth is estimated to slow to an 11-year low, or 5%.
In the interactive session, the participants proposed suggestions for increasing consumption, putting more money into the hands of consumers, measures needed to improve liquidity, and suggestions for the capital market.
There are also suggestions for the "Vivad se Vishwas" plan to resolve disputes related to direct taxes. It was announced in the 2020-21 budget.
She said that the Ministry of Finance will provide details of the plan as soon as possible. However, approval of Congress is required before the plan can be implemented.
Sitharaman assured participants that her ministry would look into the suggestions.
Last week, Finance Ministers held similar interactive meetings in Mumbai, Chennai and Kolkata.
Niti Aayog Vice Chairman Rajiv Kumar, CEO Amitabh Kant, and the Secretary of the Treasury also attended the meeting.