FM welcomes US investors to do business in India

Asserting that continuous reforms make India a great place to do business, Finance Minister Nirmala Sitharaman on Thursday invited global investors to take advantage of the recent FDI reforms, the privatisation policy and the performance-linked incentive (PLI) scheme.

Speaking at the Global Investors Roundtable organised by the US-India Strategic Partnership Forum (USISPF), the finance minister said that the fiscal situation is under control and is expected to improve further, and also emphasised the strong fundamental of the economy.

The fiscal deficit for 2020-21 was at 9.3 per cent of the gross domestic product (GDP), lower than 9.5 per cent estimated by the finance ministry in the revised Budget estimates.

COVID-19 and its aftermath has shown the Indian economy’s resilience, Sitharaman said, adding that the highest ever Goods and Services Tax (GST) collection shows the bright spot and indicates greater formalisation of the economy and tax compliance.

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