Union Finance Minister Arun Jaitley on Friday claimed that India had displayed its capacity and ability to take difficult decisions, adding that each of these would largely benefit the economy in the future.
“India, a market-centric society, has shown its ability to constantly retrospect into its policies at regular intervals. With a population and geographical size like ours, we have displayed the capacity and ability to take difficult decisions. We have an expanding middle class with enormous purchasing power, along with a silent revolution by an aspirational class. The decisions taken are sure to raise quality of life here,” Jaitley said, while addressing the Plenary Session of World Food India 2017.
Talking about the food processing sector in the country, Jaitley opined that in terms of investment, the sector was projected to witness a sea of change in the near future.
“There is a need to consider this sector more seriously for both domestic and international investment. India is going through various changes, and is now more open to investment. In 2017, we are thinking of the developments that investors can witness in 2040-50. India is ensuring that investors who come from various parts of the world have a good experience and go back happy,” he said.
Talking about the recent report released by the World Bank on ease of doing business, Jaitley stated that the structural reforms implemented in the last three years have been duly recognised, with India being the only major country to feature on the ‘Structural reforms’ section of the report.
“The roadmap for economic development shows that we are moving towards enhanced connectivity, with over 250 highways being constructed, 35-40 new airports being built and 400 railway stations being modernised. Steps are also being taken to improve connectivity in rural India, along with making electricity available for all households by 2019,” Jaitley concluded.