BREAKING NEWS

BREAKING NEWS ""**Expected DA for Bank Employees from Aug 2024 MINIMUM 7 SLAB AND MAXIMUM 24 SLAB*****I *****

VISITOR FROM WORLD

Free counters!

YOU ARE VISITOR

Blog Archive

LIVE

BREAKING NEWS ""**If we want PSU bank to compete with Pvt bank ---Give them a break Saturday first****Outcome of Today’s meeting with IBA - 31.01.2023*********

Friday, September 18, 2015

FM Arun Jaitley says 7 per cent GDP growth not enough

Finance Minister Arun Jaitley said 7 per cent growth rate recorded in the first quarter of current fiscal is not just enough, though many thought it was a fair growth rate.
"When our first quarter results were declared, in the midst of a global slowdown, many thought that 7 per cent was a fair growth rate. But I must confess that it didn't bring too many smiles on our faces, because India has actually started feeling that 7 per cent is just not enough for us," he said while addressing investors in Singapore.
The GDP growth slowed to 7 per cent in the April-June quarter, from 7.5 per cent in the previous quarter, amid deceleration in farm, services and manufacturing sectors, as per CSO data released last month.
The government expects a growth rate of 8-8.5 per cent for full 2015-16 fiscal.
He said the government is boosting public investment in infrastructure sector to fuel growth and investment in railways would help push growth in other sectors, including steel.
"We have put in a lot of budgetary support into modernising the railways. In fact, if railways would spend all the money that is being available to us, we will probably be able to see a much faster impact on various other sectors such as steel, cement, employment, and so on," the finance minister said.
In a bid to boost growth, the government will divert its savings on the subsidy front towards irrigation and infrastructure sectors, Jaitley said. 

No comments:

33.9 million Jobs: Good News! India plans to add 33.9 million jobs by 2028

33.9 million Jobs : India’s workforce is anticipated to expand from 423.73 million in 2023 to 457.62 million by 2028, adding a net gain of a...

script async src="https://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js">