June 1, 2016 12:37 PM

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Indian economy on upward curve, monsoon, GST to push growth: Jaitley

Union Finance Minister Arun Jaitley today said India is on an upward curve of growth and a good monsoon, Goods and Services Tax (GST) passage and increased infrastructre and rural spending will further accelerate it.<br/><br/>In an interview to news agency PTI in Tokyo, Finance Minister said, hopefully, GST bill will be passed in ensuing monsoon session of Parliament, which has the potential to add to gross domestic product (GDP) growth. Also, India's infrastructure and rural spending will add to the growth.<br/><br/>With India retaining the fastest growing large economy tag post latest GDP numbers, Mr. Jaitley said with pro-growth policies helping GDP grow a faster-than-expected at 7.9 per cent in first quarter and 7.6 per cent in the entire 2015-16 fiscal shows inherent strength in the economy.<br/><br/>The GDP expansion in January-March period bettered 7.2 per cent of December quarter and helped extend the lead over China, which grew 6.7 per cent in the March quarter – the slowest in the world's second largest economy in seven years.

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