Need Complete Trust With Industry To Sustain Growth Amid COVID-19: Finance Minister

Nirmala Sitharaman said the government has disbursed Rs 4,650 crore to the Serum Institute of India and Bharat Biotech for vaccine production till July

Finance Minister Nirmala Sitharaman on Tuesday said there should be complete trust between the industry and the government to sustain growth amid the COVID-19 situation. Sitharaman, addressing a seminar organised by the Merchants' Chamber of Commerce & Industry here, said the Centre has taken several steps to ensure that revival of the economy continues despite a raging second wave of the pandemic. "There should be complete trust both between the government and the industry and vice versa to sustain growth. There must not be disturbances in the continuity, which leads to mistrust or distrust. The industry should have faith and feel that the government is accessible," she said. Citing the "cordial" relations between the Reserve Bank of India and the Centre, Sitharaman said the central bank and the government have always worked together to benefit the economy and the country. "During this ongoing second wave, look at the steps which we have taken. Revival will continue to happen. Sentiments cannot fall so rapidly. Our appeal to the industry is to have trust in the government," the finance minister added. Sitharaman said the central government has disbursed Rs 4,650 crore to the Serum Institute of India and Bharat Biotech for vaccine production till July, which will be available for free in government hospitals. "We hope the second wave can be stifled through micro-containment zones as the government is not in favour of an all-across lockdown like last year, which has adverse impact on migrant workers," she said.