The Union Finance Minister Arun Jaitley has stressed again that the overall economic situation in the country is looking better and the basic parameters of the Indian economy are moving in the right direction. He added that 'The global situation is favourable to the country as more and more investors are showing curiosity and interest in India”. Though, he felt that the major challenge will be to boost investment, especially in the infrastructure sector and give further boost to both manufacturing and agriculture sector among others.
The Finance Minister has further assured that the current account deficit will be under control and the government will try to keep fiscal deficit within the prescribed limit. He also said that the economic growth rate would be better than that of the last year. The government has budgeted its fiscal deficit for the year ending March at 4.1 per cent of the GDP, down from 4.5 in 2013-14.
Jaitley also said that the growth rate in current fiscal would be better than the last year as per the old system. As per advanced estimates of Central Statistics Office (CSO), the growth rate would be 7.4 per cent in the current fiscal against 6.9 percent in 2013-14.