The government’s reform initiatives will help India’s economy grow 9-10% in the coming years, finance minister Arun Jaitley said on Friday.
“The cumulative impact of these (initiatives), I believe, will increase our capacity to grow is more than 9%, it is 10%,” he said in an interview to Doordarshan.
Significant work is being done in infrastructure and agriculture sectors, and the government is making special efforts to tackle farmers issues, particularly in irrigation, he added.
The finance minister also said the government has created transparent environment and has given up discretionary powers to dole out incentives to companies. “We do not hear the word corruption in this government. If you have spectrum, coal, mine reserves auction them... The money that comes from auctioning of coal and mines they go to the states from where the reserves were generated,” he said.
Meanwhile, the finance ministry on Friday empowered the panel under former chief economic advisor Ashok Lahiri to interact with the industry, and clarify on various tax issues.