Finance Minister Arun Jaitley has said that amid global headwinds India continues to maintain a high growth rate at 7.6 per cent in 2015-16 compared to 7.2 per cent in the previous year. Commenting on India’s growth rate, he said India is maintaining a high growth rate at time of global difficulties and is sticking with its agenda of reforms push and infrastructure creation.
Jaitley who was ddressing the annual general meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB), said that the Bank has come up amid huge expectations in a difficult time for the global economy and that India is preparing basket of projects worth $2-3 billion for AIIB funding.
Highlighting that the India's endeavour is to reach a higher level of growth and to sustain it, Jaitley said, 'We have made India and open economy to attract more Foreign Direct Investment (FDI)”. He added that India has undertaken reforms in FDI and initiated large investments in rural infrastructure, national highways, inland waterways, shipping, power sector and smart cities.