The Indian economy is expected to grow “much better” in 2015-16 as compared with the current financial year, Finance Minister Arun Jaitley said on Monday.
The Indian economy grew by 5.3 per cent in the September quarter from a year earlier, and is expected to grow 5.5 per cent in the current financial year that ends on March 31.
India has had two successive years of below 5 percent economic growth and is still recovering from its worst slowdown since the 1980s.
Highlights:
* Manufacturing remains a challenge; last 2 years saw economic slowdown, this year may be slightly better: Finance Minister Arun Jaitley
* Next year’s growth will be even more better; we have to put house in order to accelerate growth in manufacturing: FM
* Entry point into manufacturing sector should be eased; entry barriers have to be lowered: FM
* Our taxation regime has to be internationally competitive: FM