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

  • The talent to make things grow big must be rewarded without a ceiling

    Executive pay has always been a hotly debated topic, mainly because it involves a lot of money.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Roopen Roy

How leaders groom future leaders

As writer Tom Peters said, “Leaders do not create followers, ...

Rajgopal Nidamboor

Pluralistic essence of our being

Our new understanding of the mind through the rapidly expanding ...

Dharmendra Khandal

Have you spotted those wasps, yet?

Wasps are insects that ride on the monsoon winds. I ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture