Washington: As per the Union Finance Minister- Arun Jaitley, the growth rate of India is now at 7.5 per cent and is not enough considering its own requirement standard and the country has the “potential” to do “better”.
Moreover, as per the Finance Ministry- Jaitley the country can grow at a much faster pace if the rainfall predictions come true.
The finance minister- Jaitley was speaking in Washington at the Carnegie Endowment for International Peace event, yesterday, on Wednesday 13th day of April, where he said that he has seen in the last two or three days the “predictions seem to be much kinder to India this year”. He then also said that “if that were to happen, India is capable of…improving upon our growth rate.”
Expressing concern over the decline in India’s exports, Jaitley said the country’s growth parameters were on track and the government is moving ahead on its reform agenda with inclusiveness and successfully meeting all its fiscal parameters.
While pointing the current growth rate at 7.5 per cent as per the global standards or by world standards in the current situation, Jaitley asked “are we doing well?”, then he himself answered saying “Yes. But by our own requirement standards are we doing well enough?”. He then answered saying “I think, we can do better”.
He said that he along with Indian Government, Prime Minister or Political opinion in the country, are not satisfy with the current growth rage. He then later said that “I think, by our own yardstick, we realise that we have potential in a helpful environment to do better.”
Notably, in the concerned function, the Finance Minister- Jaitley was welcomed earlier by William Burns- Carnegie’s president who also happens to be former Deputy Secretary of the State, later said that India had a very important role to play in the world, and this particularly in Asia.
He also pointed the change in India’s economic situation which was as per his view taken place within two years after the BJP came into power. As per him, the country has even surprised China by emerging as the fastest growing emerging economies of the World.