File photo: Xinhua

 
Indian Prime Minister Narendra Modi held a key meeting late Sunday evening to discuss strategies to intervene in the financial sector as well as structural reforms to spur economic growth and welfare during the current economic slowdown.

At the meeting, which was attended by Finance Minister Nirmala Sitharaman and senior finance officials, Modi discussed strategies and interventions to support Micro, Small and Medium Enterprises (MSMEs) and farmers, enhance liquidity and strengthen credit flows.

The PM also discussed ways and means to ensure financial stability in the wake of COVID-19, and measures taken to enable businesses to recover quickly from the impacts.

Dwelling on the issue of people's welfare, Modi pointed out the need to generate gainful employment opportunities by helping businesses overcome difficulties due to disruptions caused by COVID-19, said an official statement.

He stressed on the need to strengthen major structural reforms undertaken in the past. New structural reforms in the areas of corporate governance, credit markets and infrastructure sectors were also discussed.

Modi stressed on the need to take speedy measures to commence work on new infrastructure projects and speed up works in the infrastructure sector so as to make up for the time lost in COVID-19.