Economy Is On The Path Of 8 Per Cent Growth Rate: Arun Jaitley

Economy Is On The Path Of 8 Per Cent Growth Rate: Arun Jaitley

 

New Delhi: Finance Minister Arun Jaitley in his Budget 2018-19 speech exuded confidence that the economy in on the path of over 8 per cent growth rate. The finance minister said that 6.3 per cent growth clocked in the second quarter signalled the turnaround in economy. The growth in the second half of this fiscal (October-March) is expected to accelerate to between 7.2 per cent and 7.5 per cent, he added.

The finance minister also said that manufacturing is back on the growth path and recapitalised state banks will also be able to support growth. Indian economy expected to become 5th largest very soon and structural reforms will help economy achieve stronger growth.


In his Budget speech, the finance minister said that the government is focused on infrastructure creation, higher farmers' income and economic reforms. The indirect tax regime has been made simpler by the introduction of GST, he added. The structural growth initiative announced by the government will help the government to accelerate in the future, the minister said.

 

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