WASHINGTON: Indian Union Finance Minister Mr.Arun Jaitley in the second leg of his nine-days US tour, said here in an interview with the media that it is reasonable possible for the Indian Economy to achieve a 10 percent growth rate in the coming years. Mr.Jaitley, has tried to exude confidence in the US investors explaining about the new business reforms and policy changes that the new Indian Government has brought in.
Mr.Arun Jaitley said, ” We are pumping in money into key sectors such as the Infrastructure and given the good monsoons that we are presently having…..the ten percent growth is not difficult to achieve. That is where India’s potential is”. The Finance Minister added,” It is important for us to reach the desired target but it is even more important to sustain the growth for a couple of years”.
Mr.Jaitley giving an overview of the economic policies of the Indian Government, has further added that if the Indian sub-Continent successfully sustains the growth rate for a couple of years then it will mark a direct benefit over the citizens of India through improved employment opportunities and better individual economic growths.
” I can’t say as to what figure that India’s growth rate would achieve. But, am sure that the present seven-and-a half percent of Growth rate is not the India’s true potential. This year the country’s Growth rate is expected to easily touch the eight percent mark”, Mr.Arun Jaitley remarked.
Jaitley said that there could be a significant growth after the investments in key sectors like the Infrastructure, Agriculture and Industries and that would help the inflation to stay moderate. He added, ” With Inflation staying moderate one could logically expect that the Interest rates would go down and it would directly benefit the economy of India”, the Huffingtonpost reports.
” The cumulative positive effects of all these measures and the favorable global winds, i think the journey from eight to ten percent is not difficult. It should be noted that India achieved the present Seven percent of growth rate after a gruesome monsoons last year”, the Indian Finance Minister concluded