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GST, reforms to boost India’s growth: Arun Jaitley to US CEOs

The Finance Minister said foreign investment is important for India in order to have larger investment in infrastructure sector.

By: PTI | New Delhi | Published: August 30, 2016 6:36 pm
gst bill, arun jaitley gst bill, goods and service tax bill, jaitley GST bill, arun jaitley GST bill news, business news, india news, arun jaitley investments Union Finance Minister, Arun Jaitley during a meeting with Members of the US CEOs’ Forum at North Block in New Delhi on Tuesday. (Source: PTI)

Inviting foreign investment, Finance Minister Arun Jaitley on Tuesday said new legislations such as GST along with structural reforms in the last two years will boost growth and the overall development of the country.

In his meeting with the members of the visiting US CEOs Forum, Jaitley said the trade between the two nations will get a boost due to business-to-business, business-to-government and government-to-government interaction.

The Finance Minister said foreign investment is important for India in order to have larger investment in infrastructure sector.

Jaitley further said the government “will now focus on increasing the banks’ ability to support growth”.

He said enabling Constitution Amendment Bill relating to Goods and Service Tax (GST) has been recently approved unanimously by both the Houses of Parliament.

Besides it, the Bankruptcy Code has also been approved.

All these legislations along with different structural reforms made by the government in the last two years “will help in boosting the growth and the overall development of the country,” he added.

The members of the US CEOs Forum included Jim Taiclet, Chairman, President and CEO, American Tower Corporation (ATC), Douglas L Peterson, Chief Executive Officer and President of S&P Global Inc. (formerly McGraw Hill Financial, Inc), Paul E. Jacobs, Executive Chairman and Chairman, Qualcomm Incorporated, and Eric Alexander, Head of Business, Uber APAC.

Mukesh Aghi, President, USIBC and \Nivedita Mehra, Country Director – India-USIBC, Sanjay Bhatnagar, President and CEO, Water Health International, Dinesh Paliwal, Chairman, President and CEO, Harman International, Amit Agarwal, Vice President and Country Head, Amazon India, are among other members of the Forum.

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  1. G
    Guru Charan
    Aug 30, 2016 at 5:52 pm
    Proposed in 2006. Though some Cong states had reservations, BJP as a w opposed its tooth and nail till 2014 !!
    1. D
      Aug 30, 2016 at 1:59 pm
      Same Jaitley and Feku opposed/blocked same GST of Cong for 10 years.....!!
      1. P
        Aug 30, 2016 at 5:37 pm
        Ten yrs.GST was tabled in parliament after 2012.How come ten yrs ? It was UPA who had personal enmity to concern of many states including Gujarat.How come BJP oppose it when UPA was in majority in both the houses.UPA in its haughtiness did not even talk to some of CMs.BJP had fewer CM at that time also.