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India one of the more open economies of the world: Finance Minster

Politics and reform decisions go hand in hand. While some decisions are solely made for bringing about economic reforms in the country, the others are made to attain political mileage. Of course, time is of the essence. The results of the reforms must be visible within a stipulated period so that the vote bank calculations do not go astray. The present government, which would complete its five years in power in 2019, apparently has passed the litmus test.

Finance MinisIndia one of the more open economies of the world Finance Minsterter Arun Jaitley claimed that there is popular support for economic reforms initiated by the ruling government. He categorically stated that the recent by assembly election results indicate that recent initiatives of the government have struck the right chord with the average Indian citizen.

“Obviously, people across the world had legitimate grudge as to how long India would take to take some of the steps. I think that phase in now behind us,” the Finance Minister said while addressing an august gathering which included officials from the Trump administration.

The economic parameters too suggest that India is on the right track. While most of the world economies were experiencing a slowdown, the Indian economy recorded GDP growth rate in excess of 7%. This good economic situation and positive consumer sentiment bodes well for the country as a whole.

“India by far has become one of the more open economies of the world. Most of our sectors are open for international investment. And we have been attracting one of the largest investment that any country has been attracting in the world,” claimed the minister.

 

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