ISO 9001:2015 Certified
closex Call Us 11-23320714, 23721504, ficci@ficci.com

 Upcoming Event
to forge a partnership on Technology Commercialization Initiative, FICCI-AMITY and IC2 Institute University

Govt cautiously optimistic on economy; will continue to take steps to push growth: DEA Secretary 

Financial Express , Dec 11, 2020

The government is cautiously optimistic on the economic front and will continue to take measures to push growth, Economic Affairs Secretary Tarun Bajaj said on Friday.

Addressing FICCI’s Annual Convention, he said the second quarter GDP number was much better than market expectations and it will further improve in the second half of the current fiscal.

The economy contracted by 7.5 per cent in the second quarter, as against 23.9 per cent degrowth in the first quarter of this fiscal on account of the COVID-19 pandemic.

“So we are positive. We are cautiously optimistic on the economic front. And we are hoping that our third and fourth quarter will be far better than the second quarter.

“And I may also add that not only us, but the international organisations, the rating agencies, all of them have revised their estimates upwards for the country,” he said.

On Thursday, the Asian Development Bank (ADB) upgraded its forecast for the Indian economy, projecting 8 per cent contraction in 2020-21 as compared to (-) 9 per cent estimated earlier, on the back of faster than expected recovery.

Growth will return in 2021-22, at 7.2 per cent in South Asia and 8 per cent in India, ADB said in its latest Asian Development Outlook Supplement.

Bajaj further said demand momentum continues even beyond the festive season which will push growth in the third and fourth quarters.

“We will continue to take all steps that are required for ensuring that the economy keeps going up from here, and we will see far better quarter three, quarter four and the next year,” he emphasised.

On setting up a development financial institution (DFI) for funding infrastructure projects, Bajaj said such an entity is needed.

In the months to come, there would be some good progress on that front, he said, adding the government has created a debt platform in the National Investment and Infrastructure Fund (NIIF) for which there was a Cabinet announcement.

“The Government of India is committed to give Rs 6,000 crores in the next two years…that would be leveraged with debt by NIIF and we will be putting in more than Rs 1 lakh crore into infrastructure sector on the debt side …other than the equity side.

“While DFI is in the works, we are also taking other steps to ensure that infrastructure spend happens and both debt and equity are taken care of,” he said.

Bajaj also urged the industry to come forward and invest in the economy so that there is sustainable growth.

“While the government will continue to emphasise on infrastructure spend, but unless and until we have the private sector coming and taking the burden of the growth of the country, I don’t think we can have a sustainable growth.

“So we would like to know from you (industry) as to what is it that you want the government to do so that both of us can carry this forward and 2021 we start a new decade, and that decade is the decade for India,” he said.

Govt to soon announce new PSE policy

The government will soon come out with a new public sector enterprises policy that will define strategic sectors which will not have more than four state-owned firms, Economic Affairs Secretary Tarun Bajaj said on Friday.

As part of the ‘Aatmanirbhar Bharat Abhiyan’ package, the government had in May announced that there will be a maximum of four public sector enterprises (PSEs) in the strategic sectors, and state-owned companies in other segments will eventually be privatised.

“It is going to happen very soon…the policy will be very ambitious, and more than what is anticipated…this will bring a paradigm change in the way we think in the government and the way we do things in the government and the implementation will also come along with it. So we should see a lot of action on that,” Bajaj said.

While announcing the package in May, Finance Minister Nirmala Sitharaman had said, “PSEs will continue to play an important role in defined areas. We need a coherent policy because sometimes you open up some sectors in piecemeal… Now we shall define the areas… where their presence will be impactfully felt.”

 

 

Also Read

PM Narendra Modi to virtually inaugurate 'FICCI's 93rd AGM - Inspired India'

Need to constitute empowered group of domain experts for further rationalization of Centrally Sponsored Schemes: NK Singh, Chairman, Finance Commission

Govt working towards notifying the new PLI scheme by April 2021: Secretary DPIIT

India-US relationship to touch new heights in the days ahead under Biden-Harris administration: Ambassador Richard Rahul Verma

Indian Mythology offers important lessons on business management, corporate leadership

The 2020s belong to India: N Chandrasekaran, Chairman, Tata Group

Technology is the key to exploring new frontiers of economic recovery and resilience: Satya Nadella, CEO Microsoft

World's biggest problem is the world's biggest business opportunity: Dr Peter H. Diamandis

Trying to create the first genuine single window in terms of compliances and ease of approval process: Piyush Goyal

Our mission is to eradicate poverty: Nitin Gadkari

Recovery faster than expected; economic indicators encouraging; govt has road map for recovery: PM Narendra Modi

We are at the threshold of getting a coronavirus vaccine: Dr VK Paul

FICCI New Leadership - Uday Shankar takes over as FICCI President; Sanjiv Mehta elevated as Senior Vice President & Subhrakant Panda joins FICCI leadership as Vice President

Inspired India will emerge as a strong vibrant economy: Anand Sharma, Deputy Leader Opposition

Learn how to learn, and Lifelong learning are imperative for 21st-century education: Dr K Kasturirangan

Indian economy likely to return to pre-COVID level by end of current fiscal year: Rajnath Singh

PM to address FICCI AGM on Dec 12     

PM Modi to address FICCI's 93rd AGM, Annual Convention on Dec 12     

FICCI 93rd Annual General Meeting: PM Modi to inaugurate virtual Annual Expo tomorrow     

PM to address FICCI’s 93rd Annual General Meeting and Annual Convention on 12 December     

PM Narendra Modi to deliver inaugural address at FICCI's Annual Convention on Saturday     

PM to address FICCI's 93rd AGM, Annual Convention     

PM to address FICCI's 93rd AGM, Annual Convention on Dec 12     

PM to address FICCI event on Saturday     

PM to address FICCI's 93rd AGM, Annual Convention on Dec 12     

PM to address FICCI event on Saturday     

Need to revisit Seventh Schedule of Constitution: N K Singh     

Need to revisit Constitutional provisions on federal structure: N K Singh     

Need to revisit Seventh Schedule, says 15th Finance Commission chairman NK Singh     

An 'ambitious' PSE policy on the anvil: Economic Affairs Secretary     

Need to revisit Seventh Schedule of Constitution: N K Singh     

Need to revisit seventh schedule of Constitution: N K Singh     

Government cautiously optimistic on economy; will continue to take steps to push growth: DEA secretary     

All higher education regulators including UGC, AICTE will be merged in 2021     

Govt cautiously optimistic on economy; will continue to push growth: DEA Secy     

'Tech-driven single window for clearances by April 2021'     

N.K. Singh calls for a fresh look at the Seventh Schedule     

Without planning commission, states & Centre need forum for policy dialogue - N.K. Singh     

PM Modi to address FICCI’s 93rd AGM, Annual Convention     

FICCI Annual Convention: PM Modi to address meet, inaugurate virtual FICCI Annual Expo 2020     

PM to address FICCI's 93rd Annual General Meeting and Annual Convention on December 12     

Centre to introduce single-window clearance for investors by mid-April: DPIIT Secretary     

Single window clearance for investments by April next year     

Need to revisit Seventh Schedule of Constitution: N K Singh     

Higher Education Commission to be set up next academic session: Secy     

Need empowered group of domain experts for further rationalization of CSS: NK Singh     

Need to revisit 7th Schedule, Article 282 of Constitution: NK Singh     

Centre committed to introducing single-window clearance for investors by mid-April, says official     

Need to revisit allocation of Powers between Centre and States: NK Singh     

Need to revisit seventh schedule of Constitution: N K Singh     

Need to revisit Seventh Schedule of Constitution: N K Singh     

Need to revisit seventh schedule of Constitution: N K Singh     

Need to revisit Seventh Schedule, says fifteenth Finance Commission chairman NK Singh     

Have to revisit seventh schedule of Structure: NK Singh     

Uday Shankar takes over as FICCI President     

Corporates entering banking is a good move, says FICCI President Uday Shankar     

Uday Shankar takes over as FICCI President     

Uday Shankar takes over as FICCI President     

Uday Shankar takes over as FICCI President     

Subhrakant Panda, new VP of FICCI     

Uday Shankar takes over as FICCI President     

Uday Shankar takes over as FICCI President     

Uday Shankar takes over as FICCI President     

Uday Shankar appointed as FICCI President for 2020-21     

Uday Shankar takes over As FICCI President     

Uday Shankar takes over as FICCI President     

Uday Shankar takes over as FICCI President; Sanjiv Mehta elevated as Senior Vice President & Subhrakant Panda joins FICCI leadership as Vice President     

Uday Shankar takes over as FICCI President     

Uday Shankar takes over as FICCI President     

Uday Shankar takes over as FICCI President     

Uday Shankar takes over as FICCI President     

Uday Shankar takes over as FICCI President     

Uday Shankar takes over as FICCI President     

Uday Shankar takes over as FICCI President     

Uday Shankar takes over as FICCI President     

Know who is Uday Shankar who will take over as President of FICCI     

Uday Shankar takes over as FICCI President     

Uday Shankar takes over as FICCI President     

Uday Shankar takes over as FICCI President     

Uday Shankar takes over as FICCI President     

India's day-to-day power demand 5-10 GW higher in Dec than last year: R K Singh     

Investment will not come in unviable power sector, says R K Singh     

Half-hearted reforms won’t help salvage discoms: RK Singh     

India aims to surpass China in mobile manufacturing: Ravi Shankar Prasad     

Investment will not come in unviable power sector: Power minister R K Singh     

Centre may extend PLI to laptop and tab manufacturing     

India aims to surpass China in mobile manufacturing: Ravi Shankar Prasad     

India aims to surpass China in mobile production, says Union Minister Ravi Shankar Prasad     

Pushing India to surpass China in mobile manufacturing, says Ravi Shankar Prasad     

'Surpassing China My Goal': Ravi Shankar Prasad On India's Mobile Manufacturing Revolution     

Indian forces faced Chinese military with utmost bravery: Rajnath Singh on Border Row     

'India can surpass China to become world’s largest mobile phone manufacturer'     

Subhrakant Panda- An Odia Industrialist Elected as Vice-President of FICCI     

Indian economy may return to pre-Covid levels by end of FY21: Rajnath Singh     

COVID vaccine: India Inc. proposes to use CSR funds for vaccinating staff     

Armed forces forced PLA to retreat: Rajnath     

PM Modi at FICCI AGM: Reforms in Mfg, MSME, Agri, Infra, Tech sectors show decisive govt     

Half-hearted reforms won't help salvage discoms: RK Singh     

Pushing India to surpass China in mobile manufacturing     

PLI Scheme to help India pip China in Mobile Manufacturing: Ravi Shankar Prasad     

Dixon calls for level playing field for new, old players under PLI schemes     

India on track to achieve Paris climate goals, says PM Modi     

Agricultural reforms will increase farmers' income: PM Modi at FICCI event     

PM Modi backs farm laws at FICCI event, says it will open up new markets     

Tech overhaul via public-private partnership will hasten recovery: Nadella     

'2020s belong to India': Tata Chairman Chandrasekaran at FICCI meeting     

PM Modi Highlights: Agri reforms aimed at benefiting farmers, private sector needs to step up, says Prime Minister     

Govt taking steps to make India competitive in global economy; focus on sunrise sectors must: Kant     

Private sector should ramp up investments in agriculture and allied industries: PM Modi     

Economic indicators are encouraging, situation improving swiftly: PM Modi     

Emergency use authorisation for Covid vaccine only after detailed analysis: Niti Member     

Farmers will get new markets, options and more benefits of technology: PM Modi on farm reforms     

Public institutions, pvt sector together can help developing economies overcome pandemic: Satya Nadella     

'World’s faith in India built over 6 years, strengthened in past months': PM Modi at FICCI's AGM     

Invest more in farm sector, not enough: PM tells India Inc     

India’s economic recovery faster than expected, says PM Modi     

Recovery faster than expected; economic indicators encouraging: PM Modi at FICCI event     

PM Modi to deliver inaugural address at FICCI's 93rd AGM today     

Jaishankar hopes India-US trade parleys continue under Biden     

Digital tech, AI transforming businesses in covid world: Satya Nadella     

Need to find swadeshi alternative of EV parts in India, says Gadkari     

Govt committed to helping farmers: PM Modi     

Technology key to exploring new frontiers of economic recovery, resilience: Satya Nadella     

Govt committed to helping farmers, increasing their income: PM Narendra Modi at FICCI convention     

Agri Reforms will create New Markets, Increase Income of Farmers, says Modi as Agitation Intensifies     

"Economic Indicators Raising Hope": PM On India's Recovery Amid Covid     

Recovery faster than expected; economic indicators encouraging: PM Modi     

Tech key to exploring new frontiers of economic recovery: Nadella     

'What happened in Ladakh, affected Public Sentiment in India:' S Jaishankar at FICCI 93rd AGM     

New farm laws will give farmers access to technology, says PM Modi     

Govt committed to protect interest of farmers: PM Modi     

Satya Nadella reveals why public sector is close to his heart     

There's bigger opportunity for Microsoft in 2020 than in 1970s, says CEO Satya Nadella     

Events at LAC pose ‘real danger’ of goodwill between India and China dissipating, says Jaishankar     

No pressure on drug regulator to approve Covid vaccines, says NITI Aayog member VK Paul     

India's patience being tested by China, says External Affairs Minister S Jaishankar     

Prime Minister Modi at FICCI AGM: Government committed to protecting interests of farmers     

Tech key to exploring new frontiers of economic recovery: Microsoft CEO Satya Nadella     

PM Modi at FICCI Highlights: Agri reforms are part of govt's efforts to remove hindrances, says PM     

Prime Minister says, speed of economic recovery is encouraging, govt. reforms are removing all kinds of needless frameworks     

Union Minister Piyush Goyal says new farm laws will bring more investment in rural India and raise farmers income     

Govt committed to protecting farmer interests 'At Any Cost': PM Modi     

Recovery faster than expected; economic indicators encouraging: PM     

Agri reforms will break barriers; farmers to benefit: PM Modi at FICCI meet     

Modernisation of public sector, public-private partnership: Satya Nadella on post-COVID recovery     

Farm Reforms To Provide New Markets To Farmers, Bring Investments In Agriculture: PM Modi     

PM Modi defends farm bills, says 'unless we invest big, farmers will not get better value'     

World's biggest problem is the world's biggest business opportunity: Dr Peter H. Diamandis     

India-US relationship to touch new heights in the days ahead under Biden-Harris administration: Ambassador Richard Rahul Verma     

Companies adopt tech at scale to transform business amid COVID-19: Satya Nadella, CEO, Microsoft     

PM Modi calls on industry leaders to invest in villages, small cities     

PM Narendra Modi at FICCI Convention: 'In 20-20 Match Things Change Rapidly, But 2020 Baffled Everyone'     

Technology key to exploring new frontiers of economic recovery, resilience: Satya Nadella     

Farmers will get new markets and more advantage of technology: PM Modi     

PM Modi said at FICCI conference, work is being done to make self-reliant India successful     

PM Addresses FICCI: From Farm Laws, Aatmanirbhar Bharat to Pandemic, Top Points From Modi’s Speech     

Tech key to exploring new frontiers of economic recovery: Nadella     

Technical key to explore new frontiers of economic recovery: Nadella     

Agri reforms to usher in new investments, farmers to gain: Modi     

Govt committed to protecting farmer interests at any cost: PM Modi     

Govt committed to helping farmers, increasing their income: PM Narendra Modi at FICCI convention     

Economic indicators are 'encouraging', we have road map for recovery: PM Modi     

Public institutions, pvt sector together can help developing economies overcome pandemic: Satya Nadella     

Tech key to exploring new frontiers of economic recovery: Nadella     

Tech key to exploring new frontiers of economic recovery: Nadella     

Tech key to exploring new frontiers of financial restoration: Nadella     

Companies adopt tech at scale to transform business amid COVID-19: Satya Nadella, CEO, Microsoft     

Public institutions, pvt sector together can help developing economies overcome pandemic: Satya Nadella     

Technology key to exploring new frontiers of economic recovery, resilience: Satya Nadella     

Companies adopt tech at scale to transform business amid COVID-19: Satya Nadella, CEO, Microsoft     

Tech key to exploring new frontiers of financial restoration: Nadella     

Public sector modernisation, public-private partnership with use of tech key for post-Covid recovery: Satya Nadella     

Tech key to exploring new frontiers of economic recovery: Nadella     

Tech Key To Exploring New Frontiers Of Economic Recovery: Nadella     

Satya Nadella Statement Economic Recovery New Frontiers     

PM Narendra Modi, to address the 93rd FICCI AGM, Annual Conference     

'India-US relationship to touch new heights in Biden-Harris administration'     

'India can become global leader in advanced manufacturing'     

FICCI Meeting: Satya Nadella bets big on AI and other digital tech     

Odisha to become world-class industrial destination: CM     

India may need 1.3 lakh-1.4 lakh Covid vaccination centres: Study     

Every village should have affordable data: Tata chairman     

Union Minister Piyush Goyal says new farm laws will bring more investment in rural India and raise farmers income     

Centre eyes increasing manufacturing share to 30% of GDP to make India Aatma Nirbhar: Gadkari     

3 indigenous players in clearance phase-2; Apollo 11 moment for India: Niti Aayog's VK Paul     

COVID-19 vaccine: 'Covaxin' is safe, developed on time-proven tech, says Bharat Biotech MD     

COVID-19 vaccination drive may start from Jan 2021, says Serum Institute’s Adar Poonawalla     

3 Indian vaccines in phase-2 has created Apollo 11 moment for India: Dr V K Paul     

Recovery faster than expected; economic indicators encouraging: PM Modi at FICCI event     

India hopes to have serious discussions on trade issues with Biden administration     

Tech key to exploring new frontiers of economic recovery: Satya Nadella     

Naveen Patnaik to speak on 'Aspiring Odisha for Inspired India' at FICCI’s 93rd Annual Convention on December 12     

Odisha CM Naveen Patanik to address FICCI’s 93rd Annual Convention on the topic 'Aspiring Odisha for Inspired India' on December 12     

Technology crucial for economic recovery in Covid era: Satya Nadella     

Our mission is to eradicate poverty, says Nitin Gadkari     

Event:

 FICCI's Annual Convention & 93rd Annual General Meeting - Inspired India