- Education And Career
- Companies & Markets
- Gadgets & Technology
- After Hours
- Banking & Finance
- Energy & Infra
- Case Study
- Web Exclusive
- Property Review
- Digital India
- Work Life Balance
- Test category by sumit
Jaitley Lists Modi Govt's 10 Achievements
Photo Credit :
Addressing the first of many press conferences to mark Prime Minister Narendra Modi's first year in power, Finance Minister Arun Jaitley rated the Modi-led government's one-year performance as more than satisfactory, terming National Democratic Alliance’s quick decision-making in the face of obstructionism as its biggest strength in this period.
The minister further added that the government should have a tax on company profits that is more consistently applied than it is now and should bring down its effective rate to global levels.
Here are 10 key things that he highlighted about NDA government's one year rule:
On government functioning: Decisiveness even in the face of obstructionism has been the hallmark of the Modi government," he said, adding: "There is also absolute clarity in the direction in which the government ought to go, and that direction is towards growth and development."
On Corruption: A key feature of this government has been a corruption-free administration, decision-making and transparent mechanisms and to take decisions without discrepancies," he said adding that all this had led, among other things, to India's business confidence index moving up.
On Taxation: "India should have a tax on company profits that is more consistently applied than it is now and should bring down its effective rate to global levels. We must remove discretion, phase out exemptions and bring the effective rate down to global levels."
On stake sale: The government also plans to sell stakes in state-run companies through strategic sales to partly meet its target for raising revenues from asset sales, Jaitley said. He also said banks’ bad loans had come down in the quarter that ended in March.
On black money and abuse of power: The abuse of investigative agencies is now a thing of the past. We will continue to squeeze black money generation by passing more legislation in coming year.
On Goods and Services Tax: “I wish this question was asked to those who after introducing GST, after getting their own chief ministers to support GST, still ended up on a further delay,” the finance minister said.
On Modi’s foreign visits: The Prime Minister he went to 18 countries and he had talks with several countries, this has helped in leaving India's mark on these countries," he said. To a question later, he also took a dig at Congress leader Rahul Gandhi. "Going for vacation for 55 days is one kind of a foreign trip and state visits representing the country are completely different," he said.
On infrastructure: Resumption of work on 16 stalled projects planned for coming year. Government has decided to increase public investment in agriculture (specifically irrigation) and rural infrastructure." the FM said that the resources for major infrastructure projects are available in abundance in the country and it is the time for us to increase the capacity to spend them. He also added that the GST Bill, the Land Bill and resumption of work on 16 stalled projects have been planned for the coming year.
On economy: We are today the fastest growing economy in the world. But that is not enough for us," he said, adding that the public at large now was able to even ask: "Why are not we growing faster that the 8 per cent, and this restlessness to grow faster is the real potential of India."
On banking and insurance: Banking sector was under a lot of pressure due to the global slowdown. Appointments of executives and board members of banks have been professionalized. The new insurance schemes launched by the government have reached 7.5 crore people in a few weeks.