PM Narendra Modi had to disrupt 70 decade normal; had to face consequences: Arun Jaitley

By: |
New Delhi | December 07, 2016 5:36 PM

Union Finance Minister Arun Jaitley has today said that economic changes in any country could never happen overnight but road-map and agenda for it has to be created.

Praising Narendra Modi, Arun Jaitley says the PM could have chosen an easier way and look the other way, but he chose the harder way. (ANI)Praising Narendra Modi, Arun Jaitley says the PM could have chosen an easier way and look the other way, but he chose the harder way. (ANI)

Union Finance Minister Arun Jaitley has today said that economic changes in any country could never happen overnight but road-map and agenda for it has to be created. Speaking at Petrotech 2016 in the national capital, he said that the mindset of policy makers have changed. Earlier the mindset in the country was that just be providing a few favours to the affluent you can bring changes in the country’s economy, he added pointing out that the most remarkable factor in the last two and a half years, since the NDA Government took over in the centre is the emergence of an aspirational India.

Praising Prime Minister Narendra Modi for implementation of the demonetisation step, he added that the later had the courage to face the consequences of the decision. Speaking further the noteban decision by the Centre on high-valued notes of old Rs 500 and Rs 1,000, the decision was very tough in terms of transition but had been factored in. The PM could have chosen an easier way and look the other way, but he chose the harder way, the finance minister further, adding that the culture of taking decisions has completely changed and policymakers in the country now don’t shy away even from taking very difficult decisions.

Speaking further on positive results that the demonetisation step will bring into the country, the finance minister said that a new normal will be achieved in the country, which will also have long term advantages in the country. The country is going to become a society in the long term with a better Gross Domestic Product(GDP) and with more money flowing into the banking system, there will also be more capacity for banks to support India’sa economy and growth, he added.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Lakhimpur Kheri violence: SC asks UP govt to file status report after second FIR
2World steel production falls 9% on year in Sept
3Pegasus case: SC order on Pegasus snooping case today