Indian economy poised for strong, balanced growth : Jaitley

Speed Post News Network

New Delhi : Union Finance and Corporate Affairs Minister Arun Jaitley, who is on an official tour to US, on Octobr 13, 2017, participated in an interactive seminar organised by FICCI on “India Opportunity”. Jaitley spoke on the bold reforms carried out in India which now have created impressive opportunities in infrastructure assets resolution under Insolvency and Bankruptcy Code (IBC) process and in financial sector.

Jaitley stated that the Indian economy is poised for strong, sustainable and balanced growth backed by the Government of India’s strong focus on implementing structural reforms and there is clear evidence now that slowdown effect of demonetisation and GST has now more or less played it out. The implementation of the GST from July 1, 2017, and its gradual complete transition, follow-up to demonetisation, and enacting other structural reforms by the Government of India would take the economy towards higher growth trajectory. He said that the FDI flows to India increased in 2016-17 over 2015-16 indicating improved global confidence in the Indian economy, according to aPIB release.

He also spoke about the interface between the global and the Indian economy, national investments and the Infrastructure Fund, and reform initiatives of the Government of India especially to improve Ease of Doing Business.

Finance Minister Jiatley is currently on a one week official tour to Washington DC to attend the Annual Meetings of the International Monetary Fund (IMF) and the World Bank and other associated meetings. He is accompanied by Urjit Patel, Governor, RBI, Secretary, Department of Economic Affairs, Subhash Chandra Garg and other officials, according to the PIB release.