Jayant Sinha sets himself a growth target

Jayant Sinha is the son of former finance minister Yashwant Sinha and a first-time MP.

Written by Shruti Srivastava | New Delhi | Published:November 11, 2014 1:18 am
Arun Jaitley welcomes Jayant Sinha as his new deputy on Monday. (Source: Express photo byPraveen Khanna) Arun Jaitley welcomes Jayant Sinha as his new deputy on Monday. (Source: Express photo by Praveen Khanna)

Jayant Sinha, now Arun Jaitley’s deputy in the Ministry of Finance, exuded confidence that GDP growth will cross 6 per cent in 2015-16.

“The priority of the government will be job creation and inflation management…We are expecting growth to pick up and be on the accelerating trajectory. Hopefully we will cross 6 to 6.5 per cent next year,” Sinha told reporters soon after taking charge. Jayant is the son of former finance minister Yashwant Sinha and a first-time MP.

“First, creating jobs is very important for us and for the economy. The second area that we have emphasised and we have done well on is obviously managing inflation and price rise, which has been a major election issue, and I think we have done remarkably well on that,” Sinha said.

While the government aims at introducing the Insurance Amendment Bill and the Constitution Amendment Bill for GST in the winter session, it is struggling to rein in the fiscal deficit.

Expressing hope that the government will be able to push the insurance and the GST bills during the session beginning November 24, he said, “When it comes to Parliament we are confident that we will get the support that we require. (GST) itself has gone through years and years of preparation and consensus building … We are sure will be able to show some positive results in this session.”
As tax collections decline and the fiscal deficit widens, Sinha said the government is monitoring the fiscal situation and “we have been fortunate to have tailwinds of lower oil prices which are going to help on the expenditure side. So when we take it into account, we are very confident that we will be able to achieve our fiscal targets”.

He said the economy will return to 7-8 per cent sustainable growth trajectory in the coming years. Economic growth slumped to 4.7 per cent in 2013-14 and is estimated at between 5.4-5.9 per cent in current fiscal.


 

Arun Jaitely | Information & Broadcasting

“I have been in this ministry before… there was more print media than electronic media. Today, there has been a lot of growth of radio and digital mediums… this changed…this ministry has to look at that”

Rajyavardhan Rathore | MoS, I&B

“My priorities include bringing in more efficiency, fresher ideas and utilising all modes of communication available to us, including private media. It is the best time for me since I am getting to work under the PM and Jaitley ji…”

To-do list

Filling up key vacancies in Prasar Bharati Board and Central Board of Film Certification; National Film Heritage Mission

For all the latest India News, download Indian Express App

    Live Cricket Scores & Results