PM Modi seeks India's Inc's inputs for sector-wise structural reforms; assures growth

Prime Minister Narendra Modi on Tuesday while inaugurating the Confederation of Indian Industry's (CII) annual session 2020 exuded confidence of the economy getting back on track in a post-pandemic world reassuring the country that "we will get our growth back." PM Modi stated that even if Coronavirus slows us down, India has already left behind its lockdown and has entered Unlock 1. He added that there was a need for 'sector-wise structural reforms' to be implemented.

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"I request you to come forward with a detailed study for every sector; we will together take up structural reforms. We will implement structural reforms that will change the course of the country. Together we will build a self-reliant India," said PM Modi. "Today, the world is looking for a trusted, reliable partner. In India, we have potential, strength and ability. Today, all of you, including all the industries must benefit from the trust that has developed for India all over the world," he added. 

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'Will get our growth back' 

"Yes, we will definitely get our growth back. In this time of crisis, you may wonder how I can confidently say this. I know the country's capabilities and its abilities of crisis management. I have full faith in the country's innovation and technology and intellect. I trust our country's farmers, MSMEs, our industry leaders. That's why I say, yes we will get our growth back. India will get its growth back," said PM Modi. 

Unlock 1.0

The Centre earlier also announced that the re-opening of the areas outside containment zones will be done in three phases. India's active cases stand at 97,581 recovered cases at 95,527 with 5,598 fatalities. Here is the phase-wise re-opening: 

Phase 1 : From June 8, religious places, hotels, restaurants, shopping malls will be allowed to reopen, but will have to adhere to SOPs which will be issued by the Ministry of Health & Family Welfare (MoHFW)

Phase 2 : Schools, colleges and other educational institutions will be opened in consultation with respective states and Union Territories from July 2020. An SOP will be issued for the same by the Ministry of Health & Family Welfare (MoHFW)

Phase 3 : After further assessment of the prevalent COVID-19 conditions, resuming of international air travel, metros, cinema halls, gymnasiums, swimming pools, entertainment parks, theatres, bars, auditoriums, social/political/sports/religious/cultural functions will be decided.

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