Jaitley bats for sustainable development, says GDP to be maintained for longer period
Mumbai: Speaking for the first time in public after passage of GST in Parliament, Union Finance Minister, Arun Jaitley on Saturday said more than Modi government the credit for the implementation of Goods and Service Tax Bill goes to the masses who pressurized those who were in oppose of it.
Jaitley while addressing a crowd in Mumbai said the GST will boost ease of doing business in country and would help to grow the State-Centre partnership for sustainable development of nation. He added the one tax; one nation reform will grow investments and due to which jobs would be created.
Stating the scenario of world economics wherein Brazil and Russia are in negative GDP, Jaitley said this is the time that India should tap all the unconventional ways to grow. Moreover, he added that when world economy will rise, it will help India to grow more.
Making a point where 55 per cent of population is trying their luck in the 16 per cent agriculture sector, Jaitley said, the economic reforms of Modi government such as Make in India is needed to make equal distribution in each sector.
Taking a dig at UPA – I government, Jaitley said, the reforms made during their tenure was quite the same during early years after independence, he added, the agenda of less production and redistribution wasn’t that helpful for GDP to grow enormously.
Hence, while citing an example of China, which is the most populous country in world, Jaitley said its time to become a manufacturing hub and involve masses with it, in order to participate and shoulder the world economy.
Praising the Modi government, Jaitley noted that being the Centre for last 26 months, the scams and scandals of previous government are still making news and hitting headlines. He also spoke how unaccounted money of 15,000 crore in LPG subsidy was big scam which NDA government put a full stop over it.
Infrastructure deficit is one such sector to be renewed and promoted, in which Jaitley said, with slow and steady pace government is working for it, as every day, almost 30 km of national high way is constructed. Similarly, under Swacch bharat toilets are been built up; making concrete rural roads, electrifying villages and other such initiatives have been taken by the government, to achieve sustainable growth.
After Second World War, Asian countries such as Japan, Korea, and Taiwan created a buzz in the world with technology revolution and tried to get connected with global market. In this regard, Jaitley said it is the time that India should embrace the technology module to increase growth of the country.
In order to achieve the sustainable development in the country, Finance Minister explained how important and necessary it is to maintain the current GDP 7.5 - 8 per cent for longer period.
Talking about how India as country has missed the opportunities of being world market in 60’s and 70’s, Jaitely praised the PV Narsimha Rao and Vajpayee’s government for the reforms made when country was on the edge of bankruptcy.
