Confident of utilising the headroom available to the Indian economy, Finance Minister Arun Jaitley today said it needs some additional growth engines and the focus now is on reviving private investments.
Inviting foreign players to invest in the infrastructure space, he exuded confidence that the stuck reform measures like GST would go through as the numbers in the Upper House will change favourably soon.
No reform proposal has actually got stuck for long so far despite India being a ‘noisy democracy’, he said.
Jaitley was speaking at a breakfast session on ‘India — The next growth engine of the world’, organised by industry body CII and consultancy BCG here on the sidelines of the WEF Annual Meeting.
“We have a very noisy democracy… But I am finding that there are more people who want to support the growth and the others are very minuscule minority… Any economy needs multiple engines of growth,” he said.
“In the past we had fewer such engines and we need a few more. Public investment is one that we are doing. We are concentrating on infrastructure and for the first time in history we have been able to rationalise the subsidies,” the Finance Minister added.