What are the key highlights of the white paper on Indian economy tabled by FM Nirmala Sitharaman in Lok Sabha
Nirmala Sitharaman has tabled a white paper on the Indian economy in Lok Sabha. Explain the key highlights mentioned in the paper.
The white paper on the Indian economy tabled by FM Nirmala Sitharaman in Lok Sabha encompasses several key highlights. These include:
1. Economic Impact of COVID-19: The paper provides an assessment of the severe impact of the COVID-19 pandemic on India's economy, leading to a contraction of 7.3% in FY2020-21.
2. Policy Response: It outlines the various policy measures implemented by the government to mitigate the impact of the pandemic, such as the Atmanirbhar Bharat package, liquidity support, and structural reforms.
3. Structural Reforms: The paper emphasizes the government's commitment to structural reforms across sectors, including agriculture, labor, and education, to enhance competitiveness and promote inclusive growth.
4. Infrastructure Development: It highlights the government's focus on infrastructure development through initiatives like the National Infrastructure Pipeline and asset monetization.
5. Healthcare and Vaccination: The paper underlines the government's efforts to strengthen the healthcare infrastructure, ramp up vaccination coverage, and prioritize healthcare spending.
6. Financial Sector Reforms: It discusses the ongoing reforms in the financial sector, including banking sector reforms, capital market development, and measures to enhance ease of doing business.
7. External Sector: The paper outlines India's resilience in foreign trade and investment flows, along with the government's aim to boost exports and attract foreign direct investment.
These key highlights provide a comprehensive overview of the Indian economy and the government's efforts to revive growth and promote sustainable development.
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