FM Arun Jaitley’s thoughts and actions should augur well for equities: Citigroup

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Published: November 18, 2014 11:32:13 AM

Finance Minister Arun Jaitley's perspective on reform: many small steps often make...

Union Finance Minister Arun Jaitley with Pramit Jhaveri, CEO of Citi India at Citi’s Investor Summit “India – Poised for Higher Growth” in New Delhi. PTIUnion Finance Minister Arun Jaitley with Pramit Jhaveri, CEO of Citi India at Citi’s Investor Summit “India – Poised for Higher Growth” in New Delhi. PTI

Finance Minister Arun Jaitley’s perspective on reform: many small steps often make a bigger bang than the so-called ‘big bang reforms’, Citigroup said in a report.

The investment bank hosted Finance Minister Arun Jaitley at an investor interaction.

Adds the minister is focussing on process, building credibility with investors through policy consistency.

“We were impressed… believe the market should be too,” Citi said in the report.

Highlights goods and services tax, changes to land acquisition and labour laws as key reforms in the pipeline.

Says minister sees high cost of capital, bank financing, contract enforcement, and weak global environment as challenges.

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