Govt more confident of achieving fiscal deficit target: FM Arun Jaitley

Aug 30 2014, 16:11 IST
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There is by and large moderation of inflation and manufacturing curve has turned, says FM Arun Jaitley. There is by and large moderation of inflation and manufacturing curve has turned, says FM Arun Jaitley.
SummaryGovt taking steps to improve ease of doing business, opening up significant sectors, says FM.

Finance Minister Arun Jaitley said on Saturday he was more confident now of achieving a target to narrow fiscal deficit to 4.1 per cent of gross domestic product in the year to March 2015.

Many private economists consider the deficit target optimistic, citing weak tax receipts in a sluggish economy and high federal expenditure commitments.

Highlights:

* Containing inflation, restarting growth and investment cycles and keeping fiscal deficit at acceptable level priorities for govt: FM

* Challenges the country faced when BJP took over were slowdown in decision making and loss of investor confidence: FM

* Election results were a mood-changer: FM.

* Govt taking steps to improve ease of doing business, opening up significant sectors, expedite decision-making while maintaining social sector expenditure in most areas: FM

* No space for retrospective tax legislation: FM

* There is by and large moderation of inflation; manufacturing curve has turned: FM

* We have an ambitious disinvestment plan: FM

* Will discuss with all major political parties to see if some flexibility (slight enlargement of exemptions) can be available under Land Acquisition Bill: FM

* 2.14 crore new accounts opened under Pradhan Mantri Jan Dhan Yojana: FM

* Food inflation a concern; normally a time when prices of some fruit and vegetable are steep: FM

* I am sure we would be able to move towards some kind of larger consensus with states on GST: FM

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