India has capacity to implement bold decisions: Jaitley

India can become a much cleaner and bigger economy among the emerging economies as it has the capacity to implement bold decisions and scale them up efficiently, Finance Minister Arun Jaitley said.

He also said that India has become one of the most open and globally integrated economies at a time when other economies are turning protectionist.

“All the steps including financial inclusion, demonetisation, the Goods and Services tax to the direct tax incentive, each one of this falls into place where brick by brick you lay down the structure in order to integrate an informal economy into a much larger formal economy,” he said as he addressed American investors for the first time since the implementation of major reforms like the GST.

“I think amongst emerging economies India today has a potential for not only being a large market, but being a much cleaner economy a much bigger economy, which is now capable of taking and implementing these big ideas further,” Jaitley said.

He was addressing a New York audience at an event organised by US-India Business Council in partnership with the Confederation of India Industries.

Jaitley told investors that India now has the capacity to implement bold decisions and scale them up efficiently.

He also highlighted the large number of infrastructure projects that the government is working on and the need to widen the tax base for the country’s overall economic health.


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