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Indian economy is estimated to register 7.6% growth in FY 2015-16: Jaitley

Indian economy is estimated to register 7.6% growth in FY 2015-16: Jaitley

India Blooms News Service | 15 Apr 2016, 01:07 am
Washington, Apr 14 (IBNS) union Finance Minister Arun Jaitley said that Indian economy is estimated to register 7.6% growth in FY 2015-16, notwithstanding contraction of global exports and two consecutive years of shortfall in monsoon.

Jaitley said that amid weaker outlook across the globe, India’s experience of strong economic growth, comfortable price situation, low current account deficit, and adherence to fiscal recovery path have projected it as an outpost of opportunity for global investors.

The Finance Minister was speaking on the theme of ‘Steering India towards Growth ’, at an event organized by ‘Carnegie Endowment for International Peace’ in Washington D.C. on the very first day of his US trip.

Earlier, William J Burns, President of Carnegie Endowment and former US Deputy Secretary of State welcomed the Finance Minister and gave the introductory remarks.

Speaking further on the occasion, Jaitley emphasized on India’s economic recovery and the role of various initiatives taken by the present Government in achieving it.

Elaborating on the large number of initiatives taken by the Indian Government, the Finance Minister Jaitley said that what distinguishes the present Government is this Government’s emphasis on decisiveness, consistency in policy direction and transparency in functioning.

He also talked about reforms in taxation, Make in India programme, increase in FDI limits, expediting the process of granting clearances to new projects, steps taken for ease of doing business, rationalization of expenditure by making petrol and diesel prices market linked and promoting financial inclusion by linking Direct Benefits Transfer (DBT) to Aadhar.
 

Indian economy is estimated to register 7.6% growth in FY 2015-16: Jaitley

India Blooms News Service
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