The government would also unveil more initiatives to promote ease of doing business while taking advantage of the 'historic opportunity' to push growth rate to double-digit level, he said.
"I have mentioned about allocation of resources, resolution of disputes in government contract, bankruptcy law so that the exit itself becomes easier.
"In the ease of doing business there are some initiatives that are in pipeline from entry point to time gap between the entry point and actual start of business, to the enabling environment, the exit and to a non-adversarial taxation regime," he said addressing investors at 'The Growth Net' meeting.
The Minister, however, expressed the hope that RBI would reduce the interest rate which will give a boost to the manufacturing sector.
"I am quite certain we will see more cuts (in policy rates) in future. But as of today if you ask me how much and when, it is in the domain of the Reserve Bank and I will leave it to them (RBI)," he said.
Stating that manufacturing sector is challenging, he said: "It is here that we have to actually invent the key engine of growth. This is an area where countries which overtook us. China is an obvious example...
Noting that liquidity is getting into railways, highways, and ports, Jaitley said he said he doesn't expect the private sector to suddenly raise funds and say it will build infrastructure.
"This (investment) is the first responsibility of the government particularly when you are trying to get out of the slowdown phase, we are quite conscious of that".