Singapore: Minister of External Affairs (EAM) S Jaishankar today said that the government has repealed more than 1450 laws since 2014 and it will not shy away from taking bold decisions.
Jaishankar, while speaking at India Singapore Business & Innovation Summit, said that the government implemented GST, biggest tax reform in decades, in complex setting of a central government & 29 state governments.
“This is a government that will not shy away from bold decisions. ItIt has repealed more than 1450 laws since 2014 & 60 since it returned to the office 3 months ago,” said Jaishankar.
“It has introduced Insolvency and Bankruptcy Code, a quick, transparent&market-driven approach to resolve stressed assets and release funds and productive capacity for the economy. But it is doing something more” he said.
The External Affairs Minister said that the government is reforming the corporate sector, making it more accountable and responsible.
“It will, in the long run, make it cleaner, more efficient & innovative. It will improve the ability of banks to recover loans & keep the engine of economy running,” he added.
The first day at the Summit ended with a Gala Dinner, some Cultural Performances and an address by Jaishankar.
Jaishankar is in Singapore on a visit from September 6 to 10. During his visit, Jaishankar will co-chair the 6th Meeting of Joint Ministerial Committee (JMC) with his counterpart Vivian Balakrishnan.