Government to extend help to corporate sector: Pranab Mukherjee

Finance Minister Pranab Mukherjee today said the government would extend a helping hand to the corporate sector to fulfil the ambition of attaining high GDP and an inclusive growth.

"The new Companies Bill has brought new changes in tune with the state of the economy at this point of time. The government is willing and ready to extend helping hand to the corporate sector because the corporate sector has a major role to play in meeting our ambition of high GDP and inclusive growth," Mukherjee said at a FICCI seminar here.

Calling for mopping up of more resources from the equity market, Mukherjee said, "One point which should be stressed is to enhance confidence of retail investors in equity and corporate governance. We will have to inject confidence into the minds of investors that their investments are safe."

He said that given the current savings rate of the economy at 33% and assuming that the entire domestic household savings did not leave investable surplus in the hands of the savers, then the percentage of investment in equity was not proportionate but more.

"If we can have that, then more resources can be mobilised from the domestic market," he said.