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Finance Minister Arun Jaitley on Monday said that he was confident about the growth of the economy in coming months and emphasised that a “clear direction” and “faster pace” in decision-making would attract investments speedily.
Jaitley pointed out that the Government intended to invest more funds on improving infrastructure and would encourage investments in the manufacturing sector that could spur growth and generate employment.
Supporting the ordinance route taken by the Government, he said policy decisions need not wait “for 10 years”. “Should we have waited until the Opposition let the Upper House function?”
Indirectly supporting Prime Minister Narendra Modi’s stand, Jaitley said a Government should always be led by a “strong leader.” “The Prime Minister must be decisive and ready to face consequences, if any,” he said. Jaitley said the Government is expected to implement the much-awaited Goods and Services Tax (GST) regime by next year.
PTI adds:
Talking to reporters, Arvind Subramanian, Chief Economic Adviser to the Government, said deceleration in growth has bottomed out and the economy is poised for a 6-6.5 per cent expansion in the next financial year. The challenge before the country, he said, is to continue with the economic reform process to attract public and private investments.
On the fiscal deficit, Subramanian said the Centre is committed to meeting the target of 4.1 per cent of GDP. “We will do whatever is possible to meet it (the target).” he added.
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