rediff.com

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News 
Rediff.com  » Business » Jaitley promises to contain inflation, promote growth

Jaitley promises to contain inflation, promote growth

May 27, 2014 11:30 IST

Jaitley promises to contain inflation, promote growth

     Next

Next

New Finance and Corporate Affairs Minister Arun Jaitley on Tuesday pledged to contain price rise, restore confidence of investors in the economy and promote growth while keeping the fiscal deficit under check.

Stating that the country's economy was passing through difficult times, he said, “the challenges are very obvious.

“We have to restore back the pace of growth, contain inflation, and obviously concentrate on fiscal consolidation itself."

Click NEXT to read further. . .


Image: Arun Jaitley is administered oath of office by President Pranab Mukherjee (unseen) as a Cabinet minister at the Rashtrapati Bhavan in New Delhi May 26, 2014.
Photographs: Adnan Abidi/Reuters

     Next

Jaitley promises to contain inflation, promote growth

Prev     Next
Prev

Next

Veteran lawyer and senior Bharatiya Janata Party leader Jaitley was talking to reporters soon after taking charge of the Finance Ministry.

He also said that he would be looking after the Defence portfolio as additional charge only.

"For a transient phase, I will be looking after Ministry of Defence also, but that's only an additional charge till there's an expansion in cabinet itself," he added.

Referring to his priorities as Finance Minister, Jaitley said, "I am conscious of the fact that I am taking over at a very challenging time particularly when there is a need to rebuild the confidence of the Indian economy.

Click NEXT to read further. . .


Image: A vendor sells vegetables at a market in Mumbai.
Photographs: Rupak De Chowdhuri/Reuters

Prev     Next

Jaitley promises to contain inflation, promote growth

Prev     Next
Prev

Next

"The mandate with which our government has received has an inbuilt hope in it. . .the political change itself sends a strong signal to the global community as also the domestic investors.

“I think over the next two months by expediting decision making processes we will be able to build on that."

The minister further said the entire policy of the new government would be spelled out in the next few days.

"You will have to wait for a few days before we spell out the entire policy of the new government," he said.

Click NEXT to read further. . .


Image: The minister said the entire policy of the new government would be spelled out in the next few days.
Photographs: Reuters
Tags: 1

Prev     Next

Jaitley promises to contain inflation, promote growth

Prev     More
Prev

More

On whether he would focus on inflation at cost of growth, Jaitley said a "the balancing act" will have to done.   

India had registered over 9 per cent growth for a few years before the global financial meltdown of 2008 pulled it down.

The economic growth rate slipped to decade's low of 4.5 per cent in 2012-13. It inched up to 4.9 per cent in 2013-14.

In the current fiscal the growth rate is expected to rise further to 5.5 per cent.

 


Image: The new government will have to revive growth in various sectors to creat jobs for the youth.
Photographs: Jayanta Shaw/Reuters

Prev     More
© Copyright 2013 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.