India Has Seen More Structural Changes in 2017 Than Anytime in Recent Past, says FM Arun Jaitley
New Delhi, December 14: Union Finance Minister Arun Jaitley on Thursday said that India in 2017 has seen more structural changes taking place than any time in recent past. He said even when the World was still in the slowdown phase and yet to take a curve for the better, India realised the importance of structural changes. The Finance Minister said that India has entered an era of reasonable political stability and the GST as a council is maturing into a federal institution.
Speaking on the second day of FICCI’s 90th Annual General Meeting, Jaitley said that rationalisation of rates in an non-compliant society is always more challenging while strengthening of public sector banks is an important agenda of today. “I must confess that I had thought that after unified GST is implemented it will take a reasonable amount of time when collections move up that you’ll start rationalizing tariffs”. He further added saying that even he had not anticipated that the government would be able to start rationalizing within 3-4 months.
Even when the World was still in the slowdown phase and yet to take a curve for the better, India realised the importance of structural changes. India in 2017 has seen more structural changes taking place than anytime in recent past: FM Arun Jaitley pic.twitter.com/JOYoPDUpNu
— ANI (@ANI) December 14, 2017
During his address on the 2nd day of FICCI’s 90th AGM, Jaitley said Indian Railways is one area where the government needs to hurry up with the level of infrastructure expenditure. “Our expenditure on railway stations, quality of trains, superfast trains, bullet trains are areas which need to be strengthened”, he added.