'Govt to go ahead with reforms to achieve 8% growth'
Accusing Congress of following an obstructionist approach, finance minister Arun Jaitley on Saturday said the government was committed to going ahead with reforms measures to take India back to original potential of 8% economic growth.Updated: Dec 10, 2014 16:13 IST
Accusing Congress of following an obstructionist approach, finance minister Arun Jaitley on Saturday said the government was committed to going ahead with reforms measures to take India back to original potential of 8% economic growth.
Outlining the government's priorities like introduction of GST (Goods and Services Tax) in the ongoing Winter Session of Parliament, changes in the land acquisition law, auction of non-coal minerals and elimination of non-deserving sections from subsidy net, he said the key economic portfolios were being handled by people who have no baggage of the past.
"Now all these changes have certainly changed the environment, changed the mood. India is back on the radar. I am quite conscious of the fact some people will try and obstruct though the national mood is to the contrary. The obstructions won't be able to sustain for too long", he said while addressing the ET Awards function in Mumbai.
"And once we are able to pursue that agenda, and I think with changing systems and all other institutions also realising that the sectors in which India needs to be helped can be helped by these measures, I am sure the effect on the ground and the change in figures will also be evident", he said.
Seeking a shared vision among all stake holders like government, opposition, judiciary and legislature, Jaitley criticised the Congress approach saying "it seems to be that the party is saying now that I am out, let me obstruct. Since I am not in government, it is not my responsibility. So I will obstruct."
He also charged the Congress party with having an obsolete mindset that led to enactment of a measure like the 'draconian' land acquisition law under which it was not possible to build a private school, hospital or hotel.
The finance minister said Modi has put young people in charge of key economic ministries because they do not carry the baggage of the past and will have a fresh thinking and the ability to learn fast.
He said the government is working on the e-auction route for allocation of non-coal minerals like iron ore to remove discretionary allotments.
"Nobody today claims that I went to a minister and had to make non-commercial commitments for approvals. Gone are the days of a person being sent to party office with a slip," he said, apparently referring to approvals being given after donations to parties.
Reiterating his opposition to subsidising affluent classes, he said people pay taxes not for subsidising the rich. "We have to look at how to eliminate (undeserving) people from the subsidy net. An unquantified amount cannot be given to a unquantifiable sections."
Referring to the government's decision not to levy taxes retrospectively, Jaitley said, taxes which must be paid must be realised but what cannot be realised cannot be taken forcefully.
Such an approach, he said, did not bring even one rupee more to the kitty but got a bad name for the country.
First Published: Nov 29, 2014 22:43 IST