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Trade negotiations between India, US to conclude soon: Sitharaman
Oct-17-2019

Finance Minister Nirmala Sitharaman has said that trade negotiations between India and the US are going well and will conclude sooner than expected. She also said that India is keen on a fair and reasonable trade deal in which its request for market access is secured while also addressing the trade deficit issue raised by the US. She added that trade tensions between India and the US have been rising with President Donald Trump, championing his ‘America First’ policy, complaining that tariffs imposed by New Delhi on American products were ‘no longer acceptable’ to his country.

Sitharaman has stated that the government is focused on boosting consumption. She said steps have been taken to push liquidity through Non-Banking Financial Companies (NBFCs) and through the banks to reach the ground level. She also said the government had formed a task force which will help front-load a large part of this money for infrastructure.

Talking about demonetisation, the minister said there was every reason for it to have been implemented. She also said that note ban was one of the very important steps taken in order to contain black money, together with the fact that many of the transactions of the Indian economy were not under any institutional radar. She added ‘so the best thing about demonetization was that with one stroke we fulfilled one of our promises (to fight corruption and contain black money) and also simultaneously brought India to the digital sphere.’

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