Rolling out GST, rationalising direct taxes and ensuring further ease of doing business will be at the top of his agenda in the New Year, Finance Minister Arun Jaitley said on Sunday. He also promised more money for physical and social infrastructure in 2016.
He said “there are areas we have to respond faster,” although the country responded well to the challenges posed by the slowdown in global economy during 2015. The growth rate would improve further in the “months to come”. Outlining his top priority areas for 2016, the Finance Minister said he would continue with structural reforms and the priorities would include GST, rationalising direct taxes, and further easing the system of doing business. “After having done that, I would like to concentrate essentially on three things — more money for physical infrastructure, more money in social infrastructure and lastly more money in irrigation, because that is a neglected sector,” Mr. Jaitley told PTI in an interview.
He dismissed grumblings, about the economy not having taken off, as “cynicism” and said India had performed well in “a year of turmoil and volatility” globally.
