Jan 19, Channai
Union Finance Minister Arun Jaitley Monday said that stability, consistency and moving towards a single direction by the Government, can provide immense opportunity to move ahead towards a stronger economy.The Government will gradually address the subsidies and rationalise them to ensure stability, he said.
Addressing the CII meet on crafting an economic turn around in Chennai, the Minister said that the Government will not get distracted in achieving the goals for a healthy economy and provide a conducive atmosphere needed for growth.
Reflecting on policies implemented by the earlier Government, the Minister said that situation has changed where the fear of the investors have been addressed and changes in legislation have been made.
He said that the emergence of a strong political Prime Minister who has the last word in Government’s decision has improved the economic environment of the country both in domestic and in the international arena. Mr. Jaitley accused the opposition Rajya Sabha members for hampering the amendments in legislations and said that the Government had to resort to Constitutional mechanisms for implementing them.
The Finance Minister said that in the case of Goods and Services tax, states would be provided with a cushion by the Centre for a period of five years to see to it that no state would lose even a single rupee.
He said that number of schemes implemented by the Centre would be cut down to enable states to carve out their own plans and schemes. Hinting that the public spending on infrastructure would be increased, the Minister said that concentration would also be on manufacturing sector. He said that notifications