April 19, 2016 9:37 PM

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Indian economy growing fastest, Jaitley on Rajan's remarks

Finance Minister Arun Jaitley has said, compared to the rest of the world, Indianeconomy is growing much faster and, in fact, the fastest. He however expressed further optimism that the country can do still better looking into its potential.Mr. Jaitley was reacting to a question by a correspondent of an Indian TV channnel in New York. The question pertained to RBI Governor Mr. Raghuram Rajan's remarks last week that at 7.5 per cent growth rate India seemed to be 'one eyed king in the land of blind'. The Finance Minister said, at such a high growth rate any other country in the world would be celebrating, but it is a tribute to India's growth story that we are still impatient because we know that our potential is to do distinctively better. Mr. Jaitley drew attention towards the role of good monsoon expected this year in achieving the higher growth. As regards reforms, he said, the momentum must continue. He expressed hope that Goods and Services Tax (GST) bill will get through with numbers changing for the better in the Rajya Sabha. If the bankruptcy and GST laws come into effect, the country's ability to impact on investor confidence will also increase, said Mr. Jaitley.

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