Finance Minister Nirmala Sitharaman on Saturday said that several significant steps in structural reforms have been taken in past few months by PM Modi-led BJP government. She added that responses or interventions addressing the needs of the economy will continue.
Today, we mark the completion of six months of the second term of @PMOIndia@narendramodi. Several significant steps in structural reforms have been taken in these months.— Nirmala Sitharaman (@nsitharaman) November 30, 2019
Responses/interventions addressing the needs of the economy will continue. #6MonthsOfIndiaFirst
The statement by the Finance Minister came a day after the GDP numbers were announced. The GDP growth of the country fell to 4.5 per cent, slowest in over six years. The decline in economic growth came on the back of dwindling consumer demand, slowing private investment and global slowdown.
In a series of tweet, Sitharaman said that in the last six months, the govt brought several reforms such as a cut in corporate tax, strategic disinvestment, labour reforms, mergers of PSUs , changes in Insolvency and Bankruptcy Law and so on.
She further said, "To spur investment and industrial growth for fulfilling the target of 5 trillion dollar economy, the Modi government reduced corporate tax rates to among the lowest in the world in a historic move".
To spur investment and industrial growth for fulfilling the target of 5 trillion dollar economy, the Modi government reduced Corporate Tax rates to among the lowest in the world in a historic move. #6MonthsOfIndiaFirst— NSitharamanOffice (@nsitharamanoffc) November 30, 2019
On November 30, the Narendra Modi-led BJP government completed six months of its second-term.
PM Modi took to social media saying, "From ending of Article 370 to economic reform, productive Parliament to decisive foreign policy, historic steps taken".
The PM also highlighted that his government has cleared Industrial Relations code, slashed corporate tax rates to 22 per cent; 15 per cent for new domestic manufacturing companies.
In a series of tweets using the hashtag "6monthsofIndiafirst", the prime minister said the government "aspires to do even more in the times to come, so that we create a prosperous and progressive New India".