Structural reforms are a key priority of the government and has been reflected in the slew of measures and policies announced since outbreak of Covid-19, said Union government.
Finance Minister Nirmala Sitharaman said that every policy which was introduced had a structural component. Consequently, the reforms are having significant impact on the recovery process which we are currently witnessing.
Many sectors such as Tourism, Hotels & Hospitality, Real Estate & Construction and Airlines have been disproportionately affected by the pandemic. These are critical sectors with significant multiplier impact on the economy.
In order to ease the pain of few of these ailing sectors, the Standard Operating Procedures (SoPs) for the hotels, banquets & related activities should be looked into. Also one should look into Cabinet cleared disinvestment decisions.
On delayed payments by the government agencies, it was said that the Finance Ministry is taking periodic reviews to expedite the due payments to the industry.
Further, Nirmala Sitharaman alluded that infrastructure sector plays a key role in speeding up growth momentum, hence, to give its financing a further boost, external funds will also be welcome.