Private sector investment to show improvement and lead the economy: Arun Jaitley

Finance Minister Arun Jaitley has said that the private sector investments will show improvement and lead the economy in coming years, thereby reducing the role of government in pushing growth. He is hopeful that in the current year the private sector investment and business environment will improve and that industry will lead the economy rather than government lead the economy.

Furthermore, pinning hopes on various initiatives taken by the government to double farm income in the next five years, Jaitley said this would push up rural demand. On doubling the farm income, he said that hopefully this should lead to increase in rural demand and added that the increased rural demand is going to fill in the holes as far as the economy is concerned.

For global slowdown, Finance Minister said that the direction of decision making does not get reversed because it is extremely important that India fully utilises this opportunity. He said that it’s extremely important that India continues the pace of change in reform so that at a time when growth returns to the rest of the world it will only accelerate the point where the country has reached at the present moment.