CII applauds FM’s Reform and Liquidity boosting measures

NEW DELHI: CII Northern Region has applauded the Reform & Liquidity boosting measures announced by the Finance Minister today.

In a statement issued by CII, Nikhil Sawhney Chairman Northern Region, said, “CII applauds the Reform & Liquidity boosting measures announced by the Hon’ble Finance Minister today covering 7 critical domains of MNREGA, Health & Education, MSMEs, Companies Act, Limiting PSUs presence in strategic sectors and Enhancing support to the states by linking progress on Reforms. The Industry feels that measures announced today and earlier in the week are going to be the real building blocks for a new Atma Nirbhar Bharat.
The enhancement of Public Expenditure for ramping up the health Infrastructure especially in tier 2 and tier 3 cities, including setting up of Infectious Disease Blocks at District level Hospitals and bringing in facilities of Public Health Labs at Block levels with support from Private sector testifies the Government’s intent to bring a proactive approach in dealing with such epidemics and crisis in future.

He said that decriminalizing many of the provisions of Companies Act, bringing many of the provisions of Insolvency under compoundable offences and announcing Special Insolvency framework for MSME’s are going to infuse a sense of confidence among the entrepreneurial fraternity.

One of the hallmarks of the series of announcements today have been the emphasis on structural reforms which CII has been advocating for quite long especially in sectors which have hitherto been the turf for PSUs, he added.