1. 3 years of Modi government: Arun Jaitley lists key initiatives; 10 points to know

3 years of Modi government: Arun Jaitley lists key initiatives; 10 points to know

Dismissing the reports that demonisation was responsible for the decline in GDP growth to 6.1 percent in the fourth quarter of 2016-17, Arun Jaitley said several factors led to it

By: | New Delhi | Published: June 1, 2017 1:42 PM
arun jaitley, jaitley, 3 years of modi government, three years of modi government, narendra modi, pm modi, bjp, gdp, gdp slow down, india gdp, india news, latest news Arun Jaitley said resolving the issue of non-performing assets weighing down banks’ balance sheets is a work in progress and a major challenge. (Source: ANI//Twitter)

Days, after the Narendra Modi completed three years in governance, Finance Minister Arun Jaitley while addressing the media on Thursday, pointed out at the key initiatives taken during this period. Jaitley said Indian economy is growing at a decent pace and denied that GDP growth has slowed down because of demonetisation. Jaitley also told reporters that resolving the issue of non-performing assets weighing down banks’ balance sheets is a work in progress and a major challenge. Here are 10 things you should know:

1. Dismissing the reports that demonisation was responsible for the decline in GDP growth to 6.1 percent in the fourth quarter of 2016-17, Jaitley said several factors led to it. He said the slowdown was visible even before the demonetisation of Rs 500 and Rs 1000 notes.

2. The Finance Minister added that Indian economy is growing at a fairly decent pace. “Seven-eight per cent growth is fairly reasonable level of growth and very good by global standard and reasonable by Indian standard,” Jaitley said while addressing media on completion of three years of the Modi government.

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3. As the GDP growth rate slipped to 6.1 percent in the January-March quarter and 7.1 percent, the lowest in the three years, during 2016-17, Jaitley said certain issues are to be addressed.

4. Talking about privatisation of ailing national carrier Air India, Jaitley said Niti Aayog has already given its recommendations to the Civil Aviation Ministry to explore various options. “It is for the Civil Aviation Ministry to explore various options,” he added.

5. Hitting out at the opposition, Jaitley said the current government inherited a weak system which lacked credibility mainly due to corruption and indecisiveness. He added that BJP-led NDA government has restored the credibility of the economy.

6. Talking about the challenges government has faced in last three years, Jaitley said three years ago, there was a slowdown in policy reforms and structural changes in India. However, he added that last three years have been challenging for the entire world on the economic front.

7. Avoiding the question on infiltration attempts on LoC, Jaitley, who also holds the charge of Defence Ministry said he doesn’t want to get into the strategic details but in past few weeks our armed forces are dominating the LoC.

Watch Arun Jaitley’s remarks:

8. Further adding on the tension between security forces of India and Pakistan, Jaitley said steps have been taken to ease tension responded by a Pathankot or a Uri. He added that environment which must exist for talk has been successfully prevented by Pakistan.

9. Talking about the GST bill, Jaitley said the government is in the state of preparedness for July 1 and using media propaganda for getting rates varied won’t make a significant impact on council’s decision.

10. During his address, Jaitley admitted that resolving the issue of non-performing assets weighing down banks’ balance sheets is a major challenge for the government.

  1. Harvinder Maini
    Jun 1, 2017 at 1:54 pm
    Instead of making statements in self praise do something productive Mr Jailtley.
    Reply

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