Jaitley Predicts 8 Per Cent Growth Rate For India 2015-16 Fiscal

18 June, New York

Union Finance Minister Arun Jaitley has said that India’s 7.5 per cent economic growth rate is not its best potential growth rate and there is restlessness in the Narendra Modi-led government to boost economic growth.

Jaitley told CNBC News Channel in New York that a series of reforms aided by a lot of investment particularly in infrastructure, improvement in manufacturing, agriculture will help push up India’s economic growth.

The Union Finance Minister, who began his 10 day trip to the US Wednesday , predicted an 8 per cent growth this year.

He said the government will set higher GDP growth targets in the future.

When asked about the concerns over what is termed as “renewed tax terrorism” in India, he said this is a term coined by him and it is his responsibility to make sure that it does not happen in India again.