Zee Media Bureau/Amartya Sinha
New Delhi: Replying to the Budget debate in the Lok Sabha on Friday, Finance Minister Arun Jaitley emphasised that politicians must rise above party politics to bring back the economy to high growth trajectory.
FM said that the nation's GDP growth had tumbled tremendously in the last couple of years. While talking about his plans to boost Indian economic growth, he suggested that the govt may take 'out of the budget steps' and will encourage manufacturing sector growth in the long run.
FM further said, "We need to correct lopsided subsidy policy".
Retrospective taxation has destabilised business; it is a lesson to learn, he further stated.
Jaitley also said that the Indian economy had witnessed significant growth for a few years after the first generation of economic reforms were executed in 1991.
While banishing the opposition, he also agreed that his party (BJP) was pro-business and that he believed in business as a tool to solve the problem of unemployment and eliminate poverty in the country.
While highlighting the investment scenario in the country, he also blamed the lack of good quality infrastructure and high taxes for the lack of private investments. He also welcomed FDI in a few sectors where foreign investments can create additional resources.
