Tag: Union Minister

Piyush Goyal, BFSI News, ET BFSI

Personal Finance

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New Delhi [India], November 10 (ANI): Terming the ‘Services’ sector as the key driver of India’s economic growth, Union Minister Piyush Goyal on Tuesday said that India is poised to achieve the Services Export target of USD 1 trillion by 2030.

Goyal while speaking at the ‘ Export PromServicesotion Council- Global Services Conclave 2021′ at the national capital said, “Services sector provides employment to nearly 2.6 crore people and contributes approximately 40 per cent to India’s total global exports. The services trade surplus was USD 89 billion in FY 2020-21 and it has been the largest FDI recipient.”

Lauding India’s commitment to enabling ‘work from Home‘ during the pandemic, Goyal said “While services trade remained depressed in other countries, India’s services sector showed immense resilience. Sectors like tourism and hospitality, which suffered due to COVID-19 is showing revival signs” he said.

The Union Minister also highlighted the central government’s initiatives Aatmanirbhar Bharat Package, collateral-free Automatic Loans for Businesses and MSMEs and initiatives in Skill development and said, “Rs 56,027 crore was released under various Export Promotion schemes.”

The theme of the Global Services Conclave 2021 was ‘India Serves: Exploring Potential Growth Sectors Beyond IT/ITes’.



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Union min, BFSI News, ET BFSI

Banking & Finance

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Guwahati, Union Minister of State for Finance Bhagwat Kishanrao Karad on Wednesday said 57 new bank branches will be set up in Assam by March next year to bring more people under the ambit of banking. At an event to launch a ‘credit outreach programme’ here, Karad said the central government is taking all possible steps to expedite the economic development of the Northeastern region.

“By March 31, 2022, we will have 57 new branches of various banks. This step has been taken as Assam has less number of branches against its population as per the standard norm and people are facing difficulties because of this,” he added.

Considering the problems of the people, Prime Minister Narendra Modi has taken various initiatives to accelerate the economic growth of the northeast and Jammu and Kashmir, he said.

Karad said, “I have come to visit Assam, Manipur, and Tripura to assess the economic issues faced by the common man. We will try to solve the problems of these states.”

He expressed happiness over Assam achieving satisfactory results in implementing various financial schemes such as Mudra Loan and Kishan Credit Card among others.

“The state’s economic growth is directly related to financial literacy. If people are literate about financial aspects, only then overall economic growth will be achieved,” Karad said. PTI TR

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