Minister of State for Finance Jayant Sinha on Friday said India’s economy is presently poised for a very big growth phase.
“Our goal is to build India’s productive and innovative capacity. Our thinking is investment-oriented. We have brought down inflation. A non inflationary growth will help us avoid a boom bust cycle. We think the economy is now poised for a very big growth phase,” he said while addressing chief vigilance officers of public sector banks.
He further said that what they have been to do in the last year is to turn around the macro economic situation very substantially.
“We were able to restore confidence in the macroeconomic management of the Indian economy. With a decisive leadership in place, with the majority that we have in the Lok Sabha and in terms of the policy roadmap that we laid out, it became very clear to domestic investment business people and investors that we were going to very credibly and in a very thoughtful way, restore the Indian economy to the road path that it should be on,” he added.