Guwahati: Raksha Mantri Rajnath Singh stated today that bold initiatives such as bank merger and privatisation, as well as capitalization of public sector banks, have guaranteed that banks that were losing money owing to non-performing assets or other reasons are now able to provide loans.

He spoke today at a financial market workshop hosted by the Lucknow branch of the Central India Regional Council (CIRC) of the Institute of Chartered Accountants of India (ICAI). "We have created venture capital funding for start-ups, which is critical for their early-stage hand-holding." The fact that the country now boasts more than 100 Unicorns demonstrates the strength of the startup-based innovation ecosystem. We promoted regular investment and prohibited insider trading. The use of technology and digital architecture to make the trading process more transparent is being advocated," he stated. He said that, as a result of the government's numerous efforts, domestic demand, whether connected to investment or consumption, is fast expanding. "We are seeing a V-shaped recovery following the epidemic." Our emphasis on infrastructure and logistics has begun to alleviate supply-side constraints. Because of the success of our COVID-19 immunization programme, contact-based services are now gaining traction. "This is a fantastic indicator that our economy is on the mend," he remarked. Rajnath Singh praised Chartered Accountants (CAs) for their role in driving the country's economic environment in the correct direction, characterising them as the economy's financial management and auditing backbone. "Our CAs are the conscience guards of the financial system, much like our Armed Forces troops who safeguard the country's borders with pure bravery and determination." CAs must maintain honesty while doing their jobs since they are the guardians of the public's faith in financial institutions. " Noting that the disruptions and uncertainty induced by COVID-19 decreased private consumption expenditures, Rajnath Singh stated that the government has taken a number of initiatives to address these difficulties, with noticeable outcomes. "According to several assessments, India continues to expand as one of the world's fastest-growing major economies." Our exports continue to break records and are expected to rise further. "A big free trade deal with Australia has been concluded, as have comparable arrangements with other partner nations," he noted.