(a) whether the Government has held any meeting with the Chief Ministers (CMs), Finance Ministers (FMs) and other bankers to sustain economic recovery and spurring investment flows to take stock of concers of critical sectors of the economy; and
(b) if so, the details and outcome thereof, Statewise?
THE MINISTER OF STATE IN THE MINISTRY OF FINANCE
(a) to (b) A statement is laid on the table of the House.
STATEMENT REFERRED TO IN REPLY TO LOK SABHA UNSTARRED QUESTION NO. 1183 RAISED BY SHRI KOTHA PRABHAKAR REDDY: SHRIMATI VANGA GEETHA VISWANATH: HON’BLE MEMBERS OF PARLIAMENT FOR REPLY ON 06TH DECEMBER, 2021 REGARDING MEETING WITH CMs AND FMs
(a) & (b): With a view to enhance the investment climate in the country post pandemic, Union Finance Minister (FM) had consultation with Chief Ministers and Finance Ministers of States/Lt. Governors of UTs on 15.11.2021. Government of India has taken concrete steps to increase capital spending and drive an infrastructure and investment-led growth which will lead to employment opportunities, access to market and materials, improved quality of life and empowerment of vulnerable sections. During the interaction, it was also discussed that there is a monetizable asset base in states, which can be leveraged to enhance the capital available for new infrastructure creation and other social sector pressing priorities.
States/UTs also raised few issues such as need for Standard Operating Procedure on environment/forest clearances and enhanced powers to States; Uniform coastal zone regulations framework; Strengthening of Dispute Resolution Mechanism to strengthen PPP ecosystem; Strengthening of banking infrastructure to address gaps in banking penetration & credit-deposit ratio in states; Need of State-specific trade policy in North East region of India and Development of Agri-specific infrastructure throughout the country.
A two-day conference on ‘Creating Synergies for Seamless Credit Flow and Economic Growth’ was held on 17th & 18th November 2021 with participation of various industries, banks & financial institutions. The conference discussed flow of credit into different sectors and need to push lending in the productive sectors of the economy.
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