Zee Media Bureau
Notwithstanding the global headwinds, India continues to maintain a high growth rate at 7.65 in 2015-16 compared to 7.2 percent in the previous year; Government is following the approach of ‘Reform to Transform’ through far-reaching structural reforms and has initiated several initiatives to boost investment climate and improve Ease of doing Business
The Union Finance Minister Arun Jaitley has said though the Asia-Pacific region remains the growth engine for the world, there appears to be a softening in region’s growth rate from 5.9 percent projected last year to 5.7 percent each in 2016 and 2017.
Notwithstanding, the global headwinds, Jaitley said that India continues to maintain a high growth rate at 7.65 percent in 2015-16 compared to 7.2 percent in the previous year.
The Finance Minister Jaitley was addressing the Business Session of the 49th Annual General Meeting (AGM) of Asian Development Bank (ADB) held at Frankfurt, Germany.
Outlining the India’s development paradigm, the Finance Minister stressed that the government is following the approach of ‘Reform to Transform’ through far-reaching structural reforms.
The government has initiated several initiatives to boost investment climate and improve ease of doing business, the Minister added.
Jaitley further said that National Infrastructure Investment Fund (NIIF) has been set-up to stimulate investments in infrastructure. Similarly, several schemes such as Make-in-India, Startup India and Skill India are being implemented to encourage innovations, entrepreneurship and job creation, he added.
The Finance Minister said that India’s massive financial inclusion program has enabled opening of over 200 million bank accounts for unbanked persons. India is using AADHAAR, a unique identification system, as a backbone for targeted delivery of financial subsidies and benefits, the Finance Minister added.
