Indian economy reviving well after outbreak, says LS Speaker

The motive of decentralisation in administrative and government functioning was to strengthen the rural areas, he said.The empowerment of village panchayats is needed to strengthen Indian democracy and give new direction to society as a rural civic body is the smallest unit of democracy, he added.

Lok Sabha Speaker Om Birla on Saturday said India's economy was witnessing rapid revival after the slowdown due to the coronavirus outbreak and lockdown. Addressing the national convention of company secretaries online, Birla said the country had turned the challenges posed by the outbreak into opportunities due to community help and this had caused the revival.

He added that the nation was heading towards becoming self-reliant and efforts were on to enhance employment to bolster the rural economy. The motive of decentralisation in administrative and government functioning was to strengthen the rural areas, he said.

''The empowerment of village panchayats is needed to strengthen Indian democracy and give a new direction to society as a rural civic body is the smallest unit of democracy,'' he added. He asked the company secretaries to embrace the ideal traditions of good governance and financial integrity in the corporate sector.