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Positive impact of growth measures to be seen in long term: FM

News and Press Release - Dated:- 5-1-2018 - New Delhi, Jan 4 (PTI) Finance Minister Arun Jaitley today assured that the positive impact of the economic measures being taken by the government would be seen in medium to long term. The minister, in a debate 'short-term discussion on the state of economy' in the Rajya Sabha, said the coming generations will remember this government for creating a 'new economic history' of the country. Members of Opposition parties, especially those f .....

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e steps would be seen on the economy of the country and coming generations will remember that due to these steps a new economic history of the country has been written, Jaitley said. On concerns being raised over GDP growth decline post- noteban, the minister said although the country's economy grew at a rate of 7-8 per cent, people aspire for more. The beauty of this country is and I consider it as a strength of this country is that at even a good 7-8 per cent growth rate, India is not a sa .....

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t because public sector banks are property of the government, it is our legal as well as moral responsibility to keep them alive, he said. So, the government is undertaking such a huge recapitalisation plan of over ₹ 2.12 lakh crore, the finance minister added. The idea is to keep the public sector banks alive so that the banks' ability to support growth is not weakened, Jaitley said. He further said the reckless lending which happened did not take care of risk management and adversely .....

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1 crore which was in November hiked to ₹ 1.5 crore. Around 16 lakh industries have registered under the composition scheme and paid ₹ 250 crore in taxes, he added. On the infrastructure segment, Jaitley said the situation was so bad in the previous government that despite being a booming sector, there were no takers for tenders at that time. Today 255 highways are under construction...around ₹ 27,000-28,000 crore is going every year into the rural roads, he said. Attacking the .....

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s of the last 10 years as per the old as well as the new series, to provide a comparison on the performance of the country's economy during the tenure of both NDA as well as the UPA regimes. In the last three-and-a-half years, we have seen a regular decline when it comes to all the parameters of the Indian economy. There is not even one engine of growth which is actually running, Sharma added. He said the average growth of the GDP in the Congress-led UPA's tenure was 7.8 per cent and the .....

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