Addressing FICCI National Executive Committee meeting on Monday evening in New Delhi, India’s Finance Minister Arun Jaitley reportedly has said, the potential for growth and higher GDP really lies in two areas and the government will have to focus on agriculture and rural infrastructure. He said, infrastructure sector was lagging behind but higher government expenditure is correcting that. Mr Jaitley said, agriculture, rural infrastructure, health care and education needs higher Government expenditure.
Finance Minister Jaitley reportedly said the healthcare scheme announced in the Budget is ambitious and will be implemented in next few months. He said compliance level of GST will improve with software maturity and anti evasion measures. He said that due to GST there is an impact on direct taxes and Government has made considerable headway in direct tax collection.
Finance Minister Jatitley reportedly said, the Budget was prepared at a time when the global economy is picking up, said media news report.