Finance Minister Arun Jaitley has expressed confidence that 10 per cent economic growth rate is possible. He said the government is pursuing economic reforms, policy changes and pumping in money in key sectors like infrastructure. Addressing an audience in Washington on the second leg of his nine-day US tour to attract American investors, Mr Jaitley said it is important that the country reach the target, but it is more important to sustain it for a couple of years to have more jobs and better economy. He said once the impact of all policy changes made by the new Indian government and investments in key areas like infrastructure, agriculture and industry is felt, there could be a significant growth.The Finance Minister said, if inflation stays at moderate level, interest rates could be expected to go down, which would directly impact and add to the Indian economy. The Finance Minister added that Goods and Services Tax (GST) has the potential to at least one per cent to the GDP.
News On AIR | June 20, 2015 12:10 PM
Jaitley expresses confidence that 10 per cent economic growth rate possible