Economic slowdown temporary:Govt

Economic slowdown temporary:Govt

Agency News

New Delhi, Sep 8 : Describing the economic slowdown as a temporary phase due to some cyclic reasons, Information and Broadcasting Minister Prakash Javadekar on Sunday said the fundamentals of our economy are strong and we are sure that investment will increase, domestic demand will go up substantially.

Addressing a press conference here on the occasion of the completion of 100 days of Modi Government 2.0, the I&B Minister said during this period, the Government has taken historic and landmark decisions, both political and economic in the first 100 days. “Abrogation of Article 370 and 35 A in Jammu and Kashmir was one of the major decisions of the Government which has paved the way for the implementation of all provisions of Indian Constitution in whole J&K, thus, bringing the state into mainstream” , he said.

Amendment in UAPA Act, many decisions toward the realization of 5 trillion dollar economy, merger of Public Sector Banks (PSBs), additional credit expansion through PSBs, Infrastructure projects worth over Rs 100 lakh crore to be finalized are some bold initiatives and decisive action taken by this Government , he further said.
He also said corporate law reforms has brought transparency in the business and one can get one’s company in only one day. “ Major GST and Income Tax reforms have been initiated by the Government to reduce the physical interface and discretion,'' the Minister said.

Referring to the 35 major Bills that were passed recently in the just concluded Parliament session, Mr Javadekar said this shows the Government's commitment for good Governance and as of now in the last five years, around 1100 archaic laws have been abolished including 58 obsolete laws in last 100 days. The Triple Talaq Bill could not be passed by the previous Government despite the Supreme Court’s order because of vote bank politics but this Government has taken a bold decision and brought and passed this Bill.

Mentioning about the other bold decisions, the I&B Minister said the Modi Government 2.0 has ensured social justice and empowerment of the all section of the society by introducing death penalty for sexual offence on Children in POCSO Act and also ensured pay parity under ‘the Code on Wages2019’ .