Engines of economy will start firing after private sector expansion: Arun Jaitley

“Indian private sector needs to expand in a big way. It needs to invest and that's when all engines of economy will start firing,” said the finance minister.

By: ANI | New Delhi | Published:November 6, 2016 2:54 pm
orop suicide, ram kishan grewal, orop, ex-armyman suicide, ram kishan grewal martyr, orop suicide case, congress ram kishan grewal, congress orop suicide, orop suicide arun jaitley, bjp on orop, jaitley orop suicide, manohar parrikar, parrikar orop suicide, india news, indian express news Union Finance Minister Arun Jaitley leaves after addressing the media regarding the meeting of GST Council at North Block in New Delhi on Thursday. PTI Photo

Finance Minister Arun Jaitley has said that public and foreign investment remains intact but private sector expansion is required to let the economy start firing on all cylinders. The minister mentioned that domestic investments continue to be a challenge upon the banking sector to support corporate to propel growth.

“Indian private sector needs to expand in a big way. It needs to invest and that’s when all engines of economy will start firing,” said Jaitley.

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Talking of liberalization of FDI policies because of which India has emerged as a preferred foreign investment destination, he said: “Foreign investors are getting far greater returns on their investment here than in any other country.”

He further said there is a silver lining visible with festive purchases, indicating upturn in rural and urban demand but domestic investment will have to pick up in a big way for which banks need to do their bit by supporting corporate.