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Economy on recovery path: Jaitley

Economy on recovery path: Jaitley

India Blooms News Service | | 30 Aug 2014, 04:23 pm
New Delhi, Aug 30 (IBNS) A day after it was revealed that the Indian economy registered its highest growth in nine quarters in the current financial year under PM Narendra Modi, Union Finance Minister Arun Jaitley Saturday said since after almost 30 years a single party is ruling in New Delhi, the decision-making has been easier and the economy is on recovery path .

Signalling a revival in the economy, the government released a data on Friday which showed the country's  gross domestic product (GDP) grew by 5.7 percent in the April-June quarter of 2014-15.

Jaitley told a press conference along with Commerce Minister Nirmala Sitharaman that his government has allayed investors' fear on retrospective tax, created a special mechanism for tax dispute resolution and took some firm decisions on insurance sector.

"The raising of FDI in defence has been accompanied, by a series of other steps," he said that a sea change in terms of investment has been effected.

"Long-term impact of decisions taken in 100 days will be gradually felt," he said.

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