LIVE: India a country of political stability, policy continuity, says PM

Prime Minister Narendra Modi on Thursday said that although the coronavirus pandemic was unexpected and was testing the country's resilience, health and economic systems,  it had not affected the ambitions, aspirations of 1,30 billion Indians.
 

In his key note address at the third leadership summit of US India Strategic and Partnership Forum (USISPF) via videoconferencing, PM Modi said, "India was among first to advocate face coverings as public health measure and  to create a campaign about social distancing."
 

Saying that the world believed in India, Modi added,"India has undertaken far-reaching reforms to make business easier and red-tapism lesser." He also said that the India offered a trasparent and predictable tax regime, which  supported honest taxpayers.

"India a country of political stability and policy continuity with commitment to democracy and diversity," he noted.

In another major development, Finance Minister Nirmala Sitharaman told banks in a meeting today to put in place a loan restructuring scheme for rescuing all viable business units affected by the Covid-19 pandemic by September 15. “During her interaction, the Finance Minister focused on lenders immediately putting in place board-approved policy for resolution, identifying eligible borrowers and reaching out to them and quick implementation of a sustained resolution plan by lenders for revival of every viable business,” the finance ministry said in a statement.