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‘Robust’ macroeconomic foundation for growth: Jayant Sinha

News:

  • “We have addressed underlying macroeconomic instability that we had, despite global volatility. Government will focus on banking reforms, GST and macro-economic stability in the remaining 3-4 years” minister of state for Finance Jayant Sinha said at an IVCA (Indian Private Equity and Venture Capital Association) event.
  • Sinha said the finance ministry has entered into a landmark agreement with RBI on monetary policy and the country is prepared to deal with the aftermath of the Greek crisis.
  • Global rating agency Moody’s raised concerns about policy stagnation and “some disappointment” over the pace of reforms under the Modi government. Another agency Fitch, lowered India’s growth forecast to 7.8 per cent.
  • The Minister added that government is working very hard on pushing public investment and has provided Gross Budgetary Support to infrastructure projects and it will provide significant boost to domestic capital investment fund.

Source: ET

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