Finance Minister Arun Jaitley has said that 7 per cent growth rate recorded in the first quarter of current fiscal is not just enough, though many thought it was a fair growth rate. Addressing the investor’s summit, while on his four-day visit to Singapore and Hong kong, Mr Jaitely said the government is boosting public investment in infrastructure sector to fuel growth. He added the government has put lot of budgetary support into modernising the railways which will help in pushing growth in other sectors, including steel and cement.
Mr Jaitley said the present Government has made various reforms in different sectors including banking, taxation, labour, land and power sector. In the meeting, Finance Minister also talked about efforts being made to address the problems of discoms in the power sector. Mr jaitley called on Singapore Prime Minister Lee Hsien Loong and discussed steps to increase bilateral investment and trade. The bilateral trade between India and Singapore stood at 16.9 billion dollar during 2014-15.