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Jaitley: Serious challenges to steel, power, discoms, sugar industries

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Kolkata: Union Finance Minister Arun Jaitley on Sunday said the steel, power and the sugar sector along with the discoms remain stressed sectors and the government is addressing the challenges involved. “There are serious challenges in steel, power, discoms and sugar these are the key areas where we are addressing the challenges of the industry,” he said during an interactive session of the Indian Chamber of Commerce here.

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With Chinese imports flooding the Indian steel industry, nearly all steel-makers in the country have posted a negative balance sheet for the quarter ended June 30 while power availability and its connectivity to rural areas remain a concern. However, the minister stressed on boosting the manufacturing sector to help India attain a 8-10 percent growth. “If we are able to increase our pace of manufacturing, our services are going to be reasonably high,” he said.

Thanking the rain-gods for being “kinder this year”, Jaitley said the agro-based industry will register “significant improvement” as compared to the last year. Further, the minister said changes in the Chinese economy will help India further its manufacturing capabilities. “There is a transformation of their (Chinese) economy taking place. Besides manufacturing, they are also getting into services and are also becoming consumption-oriented rather than export-oriented,” he said. Jaitley also said wages in China are increasing which might present a scope for India to enhance its manufacturing competitiveness.

(IANS)

 

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India to Withdraw Pakistan’s ‘Most Favoured Nation’ Status

The Ministry of Commerce will issue the necessary communication in this regard, Jaitley added.

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Arun Jaitley
Jaitley said that the CCS observed a two-minute silence for those who made the ultimate sacrifice and expressed their condolences to the bereaved families. Wikimedia

Union Minister Arun Jaitley on Friday said that the government has decided to withdraw the “Most Favoured Nation” status given to Pakistan, in the wake of the worst-ever terror attack in Jammu and Kashmir a day ago when a CRPF convoy in Pulwama was rammed into by an explosive-packed SUV that has left 45 troopers dead.

The decision was taken at a meeting of the Cabinet Committee on Security (CCS) chaired by Prime Minister Narendra Modi after the suicide attack on Thursday that proved to be the most devatating since militancy erupted in 1989.

Speaking to the media after the meeting, Jaitley said: “The most favoured nation status which has been granted to Pakistan stands withdrawn.”

Arun Jaitley
“The most favoured nation status which has been granted to Pakistan stands withdrawn.” Pixabay

The Ministry of Commerce will issue the necessary communication in this regard, he added.

“The Ministry of External Affairs (MEA) will initiate all possible steps, and I am referring to all diplomatic steps, which are to be taken to ensure the complete isolation from the international community of Pakistan of which incontrovertible evidence are available of having the direct hand in this gruesome terrorist attack,” Jaitley said.

The MEA in due course will keep you informed with regard to steps taken, he added.

Jaitley said that the MEA would also engage with the international community to make sure that the Comprehensive Convention on International Terrorism which has been pending for over three decades with the UN, particularly because of the definition of the word terrorism, must be adopted at the earliest.

 

Arun Jaitley
“The most favoured nation status which has been granted to Pakistan stands withdrawn.”, says Jaitley. Pixabay

Besides Modi and Jaitley, External Affairs Minister Sushma Swaraj, Home Minister Rajnath Singh and Defence Minister Nirmala Sitharaman were also present at the meeting.

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Jaitley said that the CCS observed a two-minute silence for those who made the ultimate sacrifice and expressed their condolences to the bereaved families. At least 38 others continue in hospitals with injuries in the attack that has left the security establishment stunned.

He said the CRPF of course will make detailed arrangement with regard to transporting the bodies of the deceased to their families. (IANS)