Union Finance Minister Arun Jaitley said here on Monday that “distribution of poverty without growth is not a solution to India’s problems.”
Mr. Jaitley was criticising the previous government’s ‘policy framework.’
Addressing a session on ‘Financing for Future Growth’ at the Vibrant Gujarat Summit, he said: “We have to outgrow traditional mindsets. Tribal and remote areas cannot grow without a powerful push.”
Referring to the controversy over the government taking the ordinance route, he said, “The criticism our government is facing is why we are taking decisions so quickly. Even if one House takes time to settle down, India cannot stop. To attract investment, you must have stability of policy.”
Several decisions, for instance in tourism and banking sector reforms, did not require legislation. The government was currently “cleaning up the mess in the coal and power sectors,” he said.
The proposed reforms in the coal sector would help in the development of West Bengal, Odisha, Jharkhand and Chhattisgarh and elected representatives from these States should be “enthusiastic” about them.
He said the government planned to transfer a part of the benefit of the recent drop in oil prices to the highways sector.
