Arun Jaitley is in the US to attend the annual Spring meeting of the International Monetary Fund and the World Bank.
On a trip abroad, FM Arun Jaitley told foreign audiences that “India was reeking with the odour of corruption scandals,” and that till late 2013, country was teetering on the edge of a macro-economic crisis, which the PM Narendra Modi govt has ameliorated to a large extent.
Jaitley is in the US to attend the annual Spring meeting of the International Monetary Fund and the World Bank.
Here are the 5 success stories FM Jaitley has listed:
1. Petroleum-related energy prices have been deregulated
2. Financial inclusion successfully implemented
3. Agreement secured to implement goods and services tax (GST)
4. Bills passed to reform coal and mining sectors
5. Opened up the insurance sector to FDI
The annual budget reinvigorates growth by emphasizing public investment while maintaining fiscal discipline and protecting the vulnerable, Jaitley said.
Jaitley said the word “scandal” had ceased to be part of the popular discourse because major resources like spectrum and coal had been transparently auctioned and an onerous land acquisition bill is being rectified to reduce the costs of doing business.
“A year ago only a few could have believed that this could happen in India. Your response would have been a cynical laugh. Few would have believed this possible. And yet that is what this government has achieved. And I have not even listed all the actions,” the Finance Minister said.
“True, this is the beginning of a long process and we have a lot more to do which we will do,” Jaitley said.