Finance Minister Indicating About Past Three Experience Of Indian GDP

Arun Jaitley discussing about past 3 year’s experience of Indian economy. He indicated that it’s been challenging for our economy from past 3 years. The GDP Growth rate has been 7-8%, which is reasonable according to global conditions

 

Here are the highlights:

 

 

  • There have been challenges from Last 3 years for our economy

  • Have seen an increase in protectionism globally

  • India now emerged as on global radar, which was not there from past 3 years

  • Government has been restoring the credibility of the economy at good pace

 To root out corruption, various steps have been taken

  • India has become largest recipient of FDI

  • Process to implement GST in its final stage, it will be soon implemented

  • Reforms in subsidy have helped save resources, plug leakages

  • Demonetisation created a new economy

  • Taxpayers base has increased post-demonetisation

  • Resolution of banking non-performing assets a work-in-progress, a major challenge

 

  • Economic leakages have been checked to help in better functioning.

 

  • The major challenge is banking sector and our economy is working on that.

 

  • Implementation of strong base in Defense manufacturing is work in progress, various issues related to defense were pending but the One Rank One Pension (OROP) is now passed.

 

  • In regard of beef controversy: every state has its own legislation.

 

  • Government have taken various steps to ease India-Pak relations.

 

  • Media propaganda won’t affect any decision of council.

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