Mumbai: Finance Minister Arun Jaitley on Tuesday said Indian economy has seen fastest growth for over past three years. Jaitley said this at a stock taking meet of Indian economy which the finance minister is holding along with key officials in his ministry.
Jaitley while defending Modi government’s strong decisions like GST and demonetisation said when structural reforms are rolled out, in their natural course, some problems will be there. But in the long term, there are benefits.
“GST is the biggest reform which has curbed corruption substantially,” Jaitley said.
“Strong economic fundamentals” are the backbone of the economy even now and they can be boosted from time to time. We have created a presentation of the route to boosting the economy, he added.
Economic Affairs Secretary S C Garg said India’s macro-economic fundamentals were strong with economy consistently seeing record low inflation figures. Garg while highlighting government’s makeover plan for the Indian economy said the GDP was set to take off from its lows. “Inflation has come down every year progressively,” Garg said.
According Garg, the whole world has acknowledged India’s ability to take up strong reforms and implement them too. “GST has been the biggest reform, along with others like demonetisation and fight against black money. Issues related to exporters, SMEs have been sorted out and very soon GST will contribute to our growth story,” he added.
He also says government was confident it will meet its disinvestment target for 2017-18 financial year. In the Union Budget 2017 speech, Jaitley had said government wants to raise Rs 72,000 crore from partial sale of identified public sector undertaking units, particularly the ailing ones.
DC
