Union Finance Minister Nirmala Sitharaman, while addressing a post-budget webinar on Tuesday, said that India cannot be spectator to global affairs.
Sitharaman echoed Prime Minister Narendra Modi's statement where he asked the industry not to be a "mere spectator" and take advantage of the opportunities available in the global supply chain.
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The post-budget webinar was centred on regulatory, investment and ease of doing business reforms. Sitharaman, in her virtual address, said that India need to build global economic partnerships, leverage tech and boost exports significantly.
She added that the government remains committed to quick implementation of Budget announcements.
"The new MSME credit assessment model announced in Budget has progressed significantly. Eleven public sector banks have already operationalised the model for existing customers, while seven banks have made it available for new customers. 21 new SIDBI branches have already been opened in MSME clusters during FY24-25," she said.
On the Ministry of Corporate Affair's PM Internship Scheme, Sitharaman said the program is a hit and has received 6 lakh applications so far.
Further, she added that the government is "steadfast in reducing regulatory compliances."
"The government has so far removed 42,000 compliances and decriminalised 3,700 legal provisions. The upcoming Jan Vishwas Bill 2.0, announced in Budget, will decriminalise more than 100 provisions," she said.
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