FM optimistic of growth rate, says India has fared well
Posted on: 28/Dec/2015 9:43:14 AM
Union Finance Minister Arun Jaitley has said that, in the coming year, the Ministry`s priorities will include the GST (Goods and Services Tax), rationalising direct taxes and making sure that business in the country is done with ease. He said that there will be more money put into social and physical infrastructure.
Mr. Jaitley was responding to questions about the year 2015. He said that, India had a growth rate of between 7 and 7.5 percentage inspite of a global slowdown. He was optimistic that it will improve in the coming year. As the year ends, I look back with a sense of great satisfaction... India`s fiscal fundamentals are extremely sound... Cynicism is a way of life in India. You can question any other data but you cannot question the actual rise of revenue and the actual rise of revenue is showing that the economy is doing better’, he said.
When asked about plans for the next year, Mr. Jaitley said, (I) would continue with structural reforms and the priorities would include GST, rationalising direct taxes, and further easing the system of doing business. After having done that, I would like to concentrate essentially on three things - more money for physical infrastructure, more money on social infrastructure and lastly more money on irrigation because that is a neglected sector.
