Finance Minister Nirmala Sitharaman, along with top finance ministry officials, announced several measures that she said will help boost the country's economy, on Friday, 23 August.
Rollback of enhanced surcharge on Foreign Portfolio Investors (FPIs), support for the stressed automobile sector, release of Rs 70,000 crore for PSU bank recapitalisation upfront, withdrawal of angel tax provision for startups and their investors are some of the slew of measures the FM announced.
Seeking to dispel doubts over the economy and the government’s growth agenda, Sitharaman said that India’s GDP continues to “grow at a faster pace than the global economy and any other major economy.”
The finance minister also promised to come back with more announcements in the coming weeks to “boost the Indian economy.”
Here are the key highlights from her press conference on Friday:
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