September 2021 \ News \ BUSINESS NEWS
Indians now believe in products Made in India: PM

Exhibiting India’s manufacturing potential, Prime Minister Narendra Modi ...

For instance, he cited that commercial coal mining has started, while new reforms have been undertaken in the defence sector. Mr Modi also pointed out that the space and atomic sectors have been opened up for the private sector, among other measures. “There’s a government in place that can take the boldest decisions keeping the nation in mind, not thinking about political benefits,” he said.

“GST wasn’t implemented by the previous government because of its political risk. We did not just implement it, we’re also witnessing record collections now,” Mr Modi added. Besides, he also referred to the initiatives taken during the Parliament session such as the Factoring Regulation Amendment Bill, which will help small businessmen get credit.

Furthermore, he talked about the Deposit Insurance and Credit Guarantee Corporation Amendment Bill, which will protect the interests of the small depositors. Such measures will give a boost to the government’s efforts, he said. The Prime Minister further said that by rectifying the mistakes of the past, the government has removed the ‘Retrospective Taxation’. In addition, he said the initiative will strengthen the trust between the Centre and the industry.