Union Finance Minister Arun Jaitley, has said that, India’s 7.5 per cent economic growth rate is not its “best potential growth rate” and there is “restlessness” in the Narendra Modi-led government to boost economic growth and set higher GDP targets, in the coming years.
The Union Finance Minister, who is on a 10 day visit to the US, said, he is “extremely pleased” with what the government has achieved in the last one year, but feels that India has the ability to do much better.
Interacting with CNBC news channel reporters, Jaitley said, “The credibility of the Indian economy has been virtually reestablished but then as I have been repeatedly saying, while there is excitement, there is also a lot of restlessness as far as we in the government are concerned, because we feel that the 7.5 per cent growth rate we have achieved is not our best potential growth rate.”
“We think we have an ability to do much better,” Jaitley said, adding, that a series of reforms aided by a lot of investment, particularly in infrastructure, improvement in manufacturing and agriculture, will help push up India’s economic growth.
Jaitley, on being asked about the concerns over “renewed tax terrorism”, said, this is a term coined by him and “it is my responsibility to make sure that it does not happen in India again.”