Govt working to save lives, livelihood: FM tells industry
NEW DELHI: Finance Minister Nirmala Sitharaman on Monday said she has taken inputs from various industry chambers on concerns of India Inc as regards the management of the COVID19 pandemic and stressed that the Centre will continue to work with state governments to save lives and livelihood.
She sought feedback from businesses to deal with the impact of the second COVID19 wave on the country's economy.
It is to be noted that the economy contracted by a whopping 23.9 per cent in the first quarter (April-June) of the previous financial year due to the coronavirus outbreak.
"Spoke on telephone with each of the following business/Chamber leaders. Took their inputs on industry/Association related matters. Informed them that GoI at var
NEW DELHI: The government has framed draf t rules to amend the Indian Insurance Companies (Foreign Investment) Rules, 2015, in the backdrop of foreign direct investment limit in the insurance sector being raised to 74% from 4 9%.
According to the rules, total foreign investment in an Indian insurance company will include both direct and indirect foreign investment. Indian insurance companies with foreign investment have to ensure that within a year, the majority of its directors and key management persons have to be resident Indian citizens. ious levels from @PMOIndia is responding to #Covid management. Working together with states for lives and livelihoods," she said in a tweet.
The finance minister had interactions with heads of industry chambers including CII President Uday Kotak, Ficci President Uday Shankar and Assocham President Vineet Agarwal.
She also spoke to many business leaders like Tata Steel Managing Director T V Narendran, L&T Chairman A M Naik, TCS Managing Director Rajesh Gopinathan, Maruti Suzuki Chairman R C Bhargava, TVS Group Chairman Venu Srinivasan and Hero Moto Corp Managing Director Pawan Munjal to take their feedback on situation arising out of surging COVID-19 cases and local containments.
Talking about telephonic