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More reforms on the way to spur growth: FM

BS Reporter  |  New Delhi 

Arun Jaitley

Finance Minister said more would be coming to spur economic growth, particularly manufacturing, and to improve the investment environment.

The government had lately issued an ordinance on the insurance sector and introduced a Constitution amendment Bill on a national goods and services tax.

On his 62nd birth anniversary on Sunday, Jaitley listed his priorities and also said there'd be more focus on countering of unaccounted money, both within the economy and outside India.

"I complete 62 years today. The government has completed seven months. What are my priorities in the days to come?...Obviously, the first has to be to arrest the slowdown in growth and radically improve the investments' environment," he said.

The government in the past few months had undertaken several reforms, Jaitley said on his Facebook page. "More are to follow. Additionally, the liquidity in the market has to be encouraged and improved."

He said the services sector was doing well.

More investment in irrigation was required. "The slowdown has to be reversed. Changes and reforms which impact favourably on the sector have to be undertaken. That is a focus I intend to pursue."

He said the menace of unaccounted ('black') money and the parallel economy was a curse. "The next few months will witness an increased focus by the government to fight black money, both within and outside the country. If we succeed, this will add an additionality of resource for the national economy," he said.

First Published: Mon, December 29 2014. 00:47 IST