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Anand Mahindra hails Sitharaman's methodical approach of ‘bucketing’ key drivers of economy

Sitharaman, who also holds the corporate affairs ministry portfolio, flagged the issue of competition sans frontiers and at times, its adverse impact on Indian consumers.

India TV News Desk India TV News Desk
New Delhi Published on: August 23, 2019 22:08 IST
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Anand Mahindra hails Nirmala Sitharaman's announcements on economy boost

Mahindra Group Chairman Anand Mahindra Friday hailed the announcements made by Finance Minister Nirmala Sitharaman on economic boost. Taking to Twitter, Anand Mahindra said the willingness to relook at policies is a display of strength, not weaknesses. 

"I’ve said before, a willingness to relook at policies is a display of strength, not weakness. Today’s press conference by Nirmala Sitharaman will, I hope, mark the start of a new, interactive & interdependent relationship between Govt & business," Anand Mahindra wrote on Twitter. He also marked Prime Minister Narendra Modi and Union Home Minister Amit Shah in his tweet.

In a series of tweets, Anand Mahindra said the announcements made by Sitharaman garnered global attention. 

"Holding a press conference & announcing a slew of measures instead of a ‘trickle of tweaks’ was smart communication. It garnered global attention & signalled Govt’s recognition of the gravity of the situation & an intent to reignite sentiment & growth," he tweeted. 

"In addition, I applaud the methodical approach of ‘bucketing’ key drivers of the economy & administering a healthy dose of 1st-aid to each. I’m naturally enthused that the Auto industry was recognised as a major growth generator & given a bucket of its own," Anand Mahindra posted another tweet. 

"The most important announcement was the removal of the surcharge on FPI & DI profits. Because this was strong evidence of a listening capacity & the humility to course-correct. More than anything else, that should regenerate spirits," Anand Mahindra said in another tweet. 

Addressing a press conference in Delhi, Finance Minister Nirmala Sitharaman announced a series of economic boosts. 

Urging the Competition Commission to prepare for dealing with new challenges, Finance Minister Nirmala Sitharaman said there is a need to protect Indian enterprises from excessive abuse in terms of competition from international players in the changed global economic order.

Sitharaman, who also holds the corporate affairs ministry portfolio, flagged the issue of competition sans frontiers and at times, its adverse impact on Indian consumers.

Speaking at an event to celebrate the tenth anniversary of the Competition Commission of India (CCI), she said the time has come for the regulator to suo moto examine the impact of global firms on the domestic market in terms of competition.

Also Read | SIAM welcomes Sitharaman's announcement providing boost to auto sector

Also Read | Sitharaman's BIG announcement: Home, vehicle loans to become cheaper. Here's how

Video: Watch Nirmala Sitharaman's full press conference here 

 

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