Government committed to reverse the trend post declining figures of GDP: PM Modi

New Delhi, Oct 5 (KNN) Responding to the declining growth rate figures from the previous quarter, Prime Minister Narendra Modi said that the government is committed to reversing the trend and work towards important reforms that could help the economy come to its feet.

PM Modi further said that despite the slow figures of the previous quarter, the country’s financial stability will be restores.

The Prime Minister assured that since the figures were registered, the different departments of the government has already begun of framing the roadmap for the revival of the economy.

Citing Reserve Bank indicators, the Prime Minister said that the report from the RBI suggests that the economy is likely to rebound the following quarter with a much greater momentum than expected.

Listing the initiatives taken by his government for the industrial sector in the country, PM Modi said that the pending Insolvency and Bankruptcy came into action during the new regime, following which the industrial sector has benefitted a lot from the IBC.

Commenting on the criticism of the shortcomings in the Goods and Services Tax, PM Modi said that the discussions and consultations over the concerns of different sectors is already underway and the government is open to hear grievances under the new taxation.

PM Modi made these remarks during his address to the Company Secretaries in the national capital on the inaugural event of the Golden Jubilee Year of Institute of Company Secretaries of India (ICSI). (KNN/ DA)