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Buoyed by sharp increase in indirect tax revenues, the Finance Minister Arun Jaitley said on Wednesday that he can now see "trickle of growth" in manufacturing sector.
Till end October this fiscal, India's indirect taxes grew 36.5 per cent, Jaitley said in his address at the 'National Strategy Day on India', organised by the World Economic Forum and the Confederation of Indian Industry here.
Even if one were to remove the additional revenue measures introduced earlier this year, the indirect tax revenue collections were up 13.5 per cent so far this fiscal.
"These are real increases. Manufacturing is picking up," Jaitley said.
On goods and services tax (GST) introduction, Jaitley said that it was a question of time. He added that he could see it happening when it is put to vote.
He also described the "subsidy reform" undertaken by the Government as the "biggest unsung reform" and highlighted that a "lot of money" has been saved on this front.
Jaitley said that the biggest problem for the Government was the power sector. He indicated that the Government would in the next few days announce some reforms around discoms.
On bankruptcy law, Jaitley said he would "endeavour" to introduce the Bill in the next session of Parliament. The committee appointed to give recommendations on this subject will submit it's report in next few days, he added.
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