Govt. initiates steps to boost domestic investments

30 September 2020: With a view to support, facilitate and provide investor friendly ecosystem to investors investing in India, the Union Cabinet has approved constitution of Empowered Group of Secretaries (EGoS) for Investment chaired by Cabinet Secretary with CEO, NitiAayog, Secretary, D/o Commerce, Secretary, D/o Revenue, Secretary, D/o Economic Affairs and Secretary DPIIT as Members.

According to the Union Minister of Commerce and Industry, Piyush Goyal, the Government is also taking various steps to boost domestic investments in India. These include the National Infrastructure Pipeline, Reduction in Corporate Tax, easing liquidity problems of NBFCs and Banks, various policy measures to boost domestic manufacturing. Government of India has also promoted domestic manufacturing of goods through public procurement orders, Phased Manufacturing Programme (PMP), Schemes for Production Linked Incentives of various Ministries.

Union Cabinet also approved constitution of Project Development Cells (PDCs) in all concerned Ministries/ Departments to fast-track investments in coordination between the Central Govt. and State Govt. and thereby grows the pipeline of investible projects in India and in turn increases domestic investments and FDI inflow.