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FM urges private sector to add credibility to the Indian economy

Urging private sector to give up caution and make investments, Finance Minister Arun Jaitley has said it has become absolutely imperative to add to the credibility of the Indian economy, with the world looking up to the country as a bright spot amid global headwinds.

“The world regards India as a bright spot because we are the only one growing at 7 per cent plus rate. The investors are investing in India and are looking positively at India.

“We must carry on structural reforms, add to the credibility of the Indian economy, concentrate on higher public expenditure and attract higher FDI (foreign direct investment),” Jaitley told PTI in an interview here.

The finance minister, who was here to participate in the World Economic Forum (WEF) Annual Meeting that ended last night, further said “the private sector must give up caution and invest”.

According to him, there is further headroom available for India’s GDP growth rate from the current 7-7.5 per cent and would require some additional growth engines while the government’s focus currently is on reviving private sector investments and attracting more foreign investments.

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