Government will increase spending in irrigation & rural infrastructure: FM

 The Dollar Business Bureau The government in the coming years will increase spending in irrigation and rural infrastructure. The above statement was made by Finance Minister, Arun Jaitley at a press conference to mark the occasion of completion of one year of the present NDA Government, said a PIB release. The Finance Minister highlighting the government’s performance said, “We are in the process of creating history by bringing about the most important Indirect tax Reform through the implementation of GST. The government has been able to contain the fiscal deficit at 4% as against the target of 4.1% for 2014-15. The Government raised Rs 24,277 crore through disinvestment during 2014-15. Laws to squeeze black money have been introduced in Parliament.” “In the last quarter in March the NPAs of the banks have started reducing. The new insurance schemes launched by the Government have been highly successful. India is an highly unpensioned society, only 11 % of the population have pension. Atal pension Yojana is a great step towards helping the unpensioned sections of our society. The MUDRA Bank initiative is expected to finance to 5.77 crore small entrepreneurs in our country,” the Finance Minister, added. Though we are growing at the range of 7 to 8 %, yet there is a restlessness to grow even faster to achieve the real potential of India, Jaitley concluded.    

May 22, 2015 | 8:29 pm IST.