Arun Jaitley plays down demonetisation growth hit
He focused, however, on the growth figure of 7.1 percent in the 2016/17 fiscal year to March.
“I do believe that in the current global situation, a 7-8 percent growth, which at the moment is the Indian normal, is very reasonable,” he told a news conference.
Looking ahead to the planned launch of a new Goods and Services Tax (GST) from July 1, Jaitley said the government was “in a state of preparedness” for the rollout. He said that the GST would add to the rate of economic growth.
Jaitley also told reporters that resolving the issue of non-performing assets weighing down banks’ balance sheets was a work in progress and a major challenge.
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