Modi, who was elected in May with a mandate to provide jobs and economic growth, has seen his reform agenda stymied by controversial statements by lawmakers in his party
Modi is keen to restart big projects which are stuck for various reasons.
Imports of machinery and transport equipment grew about 40 per cent month-on-month
India's industrial output unexpectedly contracted 4.2 percent year-on-year in October, dragged down by a fall in the manufacturing and the capital goods sector, government data showed on Friday.
The government holds stakes ranging from 56% to 84% in 27 state-run banks.
Official GDP data for the second quarter of the current fiscal year ending March are due to for release this Friday.
Rajasthan has taken the lead on structural reforms which could help India attract business and employ a fast-growing workforce.
In a speech, Jaitley said that while he expected to hit targeted levels for direct taxes, reaching the goal for indirect taxes would be a "challenge".
Road projects alone worth $10 billion face delays over land disputes and other clearances.
October shipments to India, the world's No.2 gold consumer behind China, jumped to about 150 tonnes from less than 25 tonnes a year earlier and 143 tonnes in September, a finance ministry official said last week.
Migrants do many of the dirty and dangerous jobs in the region, from construction to the oil industry, transport and services
India and the United States settled a dispute on Thursday that had paralysed the World Trade Organization and risked derailing a $1 trillion package of reforms.
It doesn't appear to be happening yet, even though India's stock market has been Asia's best performer this year.
Industrial production was upwardly revised to 0.5 per cent year-on-year in August from 0.4 per cent earlier.
Consumer food price inflation, under a new series published by the government, eased to 5.59 per cent last month from 7.67 per cent in September.
Officials say a fall in global oil prices will reduce the government's subsidy burden, giving it a greater chance of hitting its ambitious fiscal deficit target of 4.1 percent of gross domestic product in the fiscal year to March.
For now, the upside appears to offset damage done to exports by weaker global demand.
Prime Minister Narendra Modi's decision to open commercial coal mining to private players is a key step towards bringing order to the country's chaotic power industry and ending the chronic blackouts that impede its economic rise.
Signs of a strong pickup in hiring by companies are adding to the rosier outlook for Indian households.
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