Interviews
Jaitley pushes for opening up of economy
20 Aug '15
1 min read
In a push for free market, Finance Minister Arun Jaitley has advocated completely opening up the Indian economy to global investment, except for rare sectors.
Speaking at the SBI Banking and Economics Conclave in Mumbai, he said the government's view after observation the economy for the last 15 months is that except for 'rare sectors', India must accept that it has to completely open up.
He said sectors that have so far remained closed, have to be opened up to received global investment. The minister said the government is moving towards that direction.
Jaitley said growing at 8-10 per cent for a significant number of years will help India find an answer to poverty. He said while macroeconomic indicators like inflation and industrial production were positive, the challenges included slow credit off-take.
He said indirect tax collections have also been good so far this fiscal and is indicative of a positive trend. (SH)
Speaking at the SBI Banking and Economics Conclave in Mumbai, he said the government's view after observation the economy for the last 15 months is that except for 'rare sectors', India must accept that it has to completely open up.
He said sectors that have so far remained closed, have to be opened up to received global investment. The minister said the government is moving towards that direction.
Jaitley said growing at 8-10 per cent for a significant number of years will help India find an answer to poverty. He said while macroeconomic indicators like inflation and industrial production were positive, the challenges included slow credit off-take.
He said indirect tax collections have also been good so far this fiscal and is indicative of a positive trend. (SH)
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