Jaitley says growth cannot be compromised at any cost

Tags: News
India's economic growth cannot be compromised at any cost, Finance Minister Arun Jaitley said at a pre-budget meeting, adding the government must also contain inflation and concentrate on fiscal consolidation.

Asia's third-largest economy grew 4.7 percent in 2013/14, marking the second straight year of sub-5 percent growth, the longest slowdown in more than a quarter of a century.

Investors are keenly awaiting Jaitley's first budget, due in early July, to see whether he will stick to a strict path of fiscal consolidation laid out be his predecessor or boost spending to revive the economy.

"Mandate of 2014, clearly spells out that economic growth cannot be compromised at any cost and is sine quo non to reap the benefits of the demographic dividend," he said in a speech to state finance minister posted on his Facebook page.

EDITORIAL OF THE DAY

  • Insurance regulator must ban differential pricing and exemptions on health covers

    To reduce their overall losses, non-life insurance companies have been increasing the health insurance premium they charge retail customers, both at t

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Arun Kumar Jain

Reframe mindset to achieve excellence

Niels Bohr, the famous quantum physicist on­ce said, “The opposite ...

Kuruvilla Pandikattu

More real than the reality

Virtual reality (VR), a te­chnology that offers an un­imaginably altered ...

Dharmendra Khandal

Urbanisation is costing us our wildlife

The road transport and highways minister Nitin Gadkari aims to ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture