New Delhi: Finance minister Arun Jaitley on Monday expressed confidence that with a stable government in place, it would be possible for India to exceed growth rate of 8-9 per cent witnessed during the previous UPA regime. “Even at the modest level of governance, we have grown at 8-9 per cent. With much better level of governance, I think we have capacity to break the deadline you are setting for,” Mr Jaitley said while speaking at a book release function.
Finance minister said that BJP led NDA government has tried to address the challenge of negative sentiments by speeding up the decision making process. “Some of the challenges, we actually see are in terms of a negative sentiment. Fortunately that story is behind us, there are lots of taxation issues, we have tried to address some of those, to address many others, there is still a responsibility on us, continued with speeding of the decision making process,” he said.
On the controversial Insurance Bill, Mr Jaitley said that though it is still pending but most reforms don’t need legislative changes. Finance minister said that most of the parties are in support of legislative changes if explained logically. He said that it is a unique opportunity after 23 years to take growth to higher levels.
“With new environment in the country, where history has once again provided us kind of opportunity which it had provided 23 years ago, we can unleash these energy and perhaps go on higher level of growth rate,” said Mr Jaitley. In the last two fiscals gross domestic product growth had slipped sub-five per cent and this year growth is expected to reach upto 5.8 per cent.
