8- 10 Percent Growth Rate is Achievable: Arun Jaitley
August 23, 2015: Finance Minister Arun Jaitley admitted that on increased investment and right policies, the growth rate of 8 – 10% is achievable.
He said," if we take right steps in the right direction and hopefully we don't have too many adverse global trends. It could be reasonably achievable. To achieve, it is extremely important that we open ourselves for investments".
"India has to accept that higher direct taxes are not in the larger interest of the economy" he added.
He had announced that rate of corporate tax should be cut down from the coming fiscals. He believes that corporate tax that is 30% in the present should be cut down to 22%.
MR. Jaitley expressed that there should be no space for obstructionism.
According to him, the Indian society also has to realise that there is enough space for politics.
"I think political parties that claim to be natural options for governance will have to realise that space is not available for them. Therefore, I do hope that a greater sense of responsibility in those areas do emerge as far as those political process is concerned," he said.