Arun Jaitley: Institutions need self correcting mechanisms

The minister was speaking at a function to launch “Seven decades of independent India: Ideas and Reflections”, a book co-authored by Vinod Rai.

On the economic front, he said the nation has reached a stage when it would be possible to have a reasonably high rate of growth over the next two decades that will help to deal with the challenge of poverty in the country.

“(For) Economy, I think, we have finally reached a situation where over the next at least two decades we can be confident about a reasonably high rate of growth which will eventually help us to face one of our most major challenges, which is fighting poverty,” he said.

He further said security at the borders and also insurgency would continue to remain a challenge. “These are areas where India has to display now its real strength and potential to overcome these two challenges in next two decades, that is, the challenges to our security on the issue of insurgency and how eventually while we are growing on one hand, get rid of the menace of poverty,” he added.

Jaitley also said that the country has faced number of crisis in the last seven decades, but at the same time showed resilience to overcome those challenges. “We have seen during this period, democracies getting toppled, economies getting shattered, systems getting discredited, institutions collapsing. But I think the inherent resilience of India was that the internal system of checks and balances that we created,” he said.