Finance Minister Arun Jaitley said on Friday the approach to governance in India has seen a complete transformation in the past year, not just with decisiveness but also in terms of speed, clarity and transparency, that has earned the country global respect.
“There was a general environment of gloom one year ago,” Jaitley said at a press conference. “A key feature has been a corruption-free administration, decision-making and transparent mechanisms,” he said adding that all this had led, among other things, to India’s business confidence index moving up.
A wobbly economy, low job opportunities, high inflation, political logjam in Parliament and fears of a below normal monsoon are the next challenges to the government.
Turning around business sentiment and pushing social sector programmes would be on the priority list of the Modi-led government.
“In the field of indirect taxation, we are in process of creating history by bringing in the GST,” Jaitley said.
GST is a single national uniform tax levied across the country on all goods and services except petroleum products, and alcohol for human consumption.
Highlighting PM Modi’s mantra of cooperative development, Jaitley said the government was committed to better Centre-state coordination.
“Our target for next session of Parliament is passing the land bill,” Jaitley said, touching upon the contentious piece of legislation that stalled proceedings in the budget session.
While on the PM’s foreign visits, Jaitley said, “Our diplomacy has created a new place for India.”