India is a $2.5 trillion economy on path for 8% growth: Arun Jaitley
New Delhi:Finance Minister Arun Jaitley on Thursday said India is a $2.5 trillion economy that is firmly on the path of an over 8% growth.
“We are now a $ 2.5 trillion economy, and we are firmly on path to achieve 8 per cent plus growth soon,” Jaitley said while delivering his Union Budget 2018-19 speech here.
“From ease of doing business, our government has moved to ease of living for the poor and middle class,” he said.
“We hope to grow at 7.2% to 7.5% in the second half of 2017-18,” he added.
The main highlights of Arun Jaitley’s speech reports, “Government will soon announce scheme to address the issue of Non-Performing Assets. There will be target for loan disbursement under Mudra scheme set at Rs 3 lakh crore for next fiscal. Mass formalisation of MSME sector is happening after demonetization and GST.
“Government to take additional measures to strengthen environment for venture capitalists and angel investors. Employees PF Act to be amended to reduce contribution of women to 8% from 12% with no change in employer’s contribution.”