8 to 10% Growth is eminently achievable


Posted on 13th Jul 2015 05:43 pm by rohit kumar verma

 

Government is working on a new agriculture insurance scheme to ensure farmers are not left at the mercy of rains, Finance Minister Arun Jaitley said today, even as he hoped “We need higher growth on one hand and we need to flag the concerns of the economy in those sections where the benefits of that growth process must reach first rain gods will be kinder this year” and help check the prices of pulses and other food products.



He also expressed confidence that the economy was moving on an accelerated growth trajectory, while higher tax revenues, improving macroeconomic fundamentals and ongoing reforms make 8-10 per cent growth “eminently achievable”.

 

 

Monsoon was above normal in June with 25 per cent excess rainfall despite a late arrival as well as a drought-like prediction and the rest of the monsoon may also be good, he said.

 

 

“I hope their estimates turn out to be true and it appears that the rain gods may be kinder this year to us. The farm department has informed me that with better rainfalls in most parts of the country, even for pulses, which at the moment are a cause of concern, productivity is likely to be much higher this year.

 

 

 

Speaking at the Nabard Foundation Day function here, Jaitley said the “silver lining” is that revenue collection situation is expected to be more comfortable than last year.

 

 

He said with the ongoing reform process, proposed GST, increased infrastructure investment and emphasis on smart cities, 8-10 per cent GDP growth is very much “in the sight”.

 

 

Allaying fears of any poor monsoon-driven troubles for the farmers and the consumers, Jaitley said the government has taken a number of initiatives, including the recently announced Rs 50,000 crore programme for a national irrigation.

 

 

Promising more sustainable measures for the farm sector so that the farmers are not left to the mercy of rain gods, Jaitley said “hopefully, in the near future, a viable and vibrant insurance scheme will be in place for farmer

0 Like 0 Dislike
Previous news Next news
Other news

MI's post on Chandrayaan-3's successful landing draws fans' attention, predicts World Cup 2023

India created history on Wednesday evening by landing a spacecraft on the south pole of the Moon.

Delhi: Drone seen above PM Modi's residence, SPG and police stirred, agencies engaged in the search

The news of a drone flying over the Prime Minister's residence on Monday morning created a stir.

Petrol Price Today: Oil companies released the prices of petrol and diesel, know the prices of your city

Petrol Diesel Price: Oil companies have released the prices of petrol and diesel for today. Today

BJP called Rahul 'Mir Jafar' and Congress called Jaishankar 'Jaichand', a lot of politics is going on over Pahalgam attack

The war of words between the BJP and the Congress over the statements of their respective leaders

Edible oil rate: The price of edible oil may decrease by Rs 10 a liter, and people will get relief from inflation

Once again the prices of edible oil may come down. The government has asked the companies to cons

Sambhal violence: Rioters will not be spared... Posters of stone pelters will be put up in public places, losses will be recovered

After the uproar during the survey of Shahi Jama Masjid on 24 November in Sambhal district of Utt

Weather Update: Rain wreaks havoc with thunderstorms in North India, 39 killed; Even today there will be showers with a strong wind in these states

Due to the change in weather in many states of North India including Delhi-NCR, there was heavy r

In preparations for action against terrorists, PM Modi reached Delhi; and held a meeting with officials at the airport itself.

After the painful terrorist attack in Pahalgam, Jammu and Kashmir, Prime Minister Narendra Modi c

Russia frees American basketball star Brittney Griner, in return US frees arms dealer from prison

America's basketball star Brittany Griner has been released by Russia. In return, Russia's arms d

Chinese conspiracy behind Delhi AIIMS server hacking: personal data and 5 servers were breached

A new revelation has come to light in the Delhi AIIMS server hacking case. The officials probing

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash