Indian economy set for higher growth trajectory: Jaitley

India's gross domestic product growth had hit a three-year low of 5.7 per cent in the first quarter of 2017-18. It was 7.5 per cent in the September quarter of 2016-17

Finance Minister Arun Jaitley has said the Indian economy is set for a higher growth trajectory on the back of a slew of structural reforms. He said the National Democratic Alliance (NDA) government would now focus on large-scale investment in the infrastructure sector and rural areas. “I think, we should be looking forward to a much higher growth trajectory (for India) in the days to come.”

“Our government has carried out structural reforms at the right time. Demonetisation and GST were carried out keeping in mind their long-term benefits to the economy,” Jaitley said. Reversing the five quarters of slowing GDP growth, Indian economy expanded by 6.3 per cent in July-September on the back of a pick-up in manufacturing.

The gross domestic product growth had hit a three-year low of 5.7 per cent in the first quarter of 2017-18. It was 7.5 per cent in the September quarter of 2016-17.

Jaitley was speaking last night at an event organised to mark the golden jubilee celebration of the local branch of the Western India Regional Council of the Chartered Accountants Association of India (ICAI). Representatives from trade and industry bodies attended the meet.