AMN
Leading trade and industry bodies have welcomed the GDP growth projection of 7 to 7(point)5 per cent in 2018-19 laid out in the Economic Survey. Finance Minister Arun Jaitley tabled the Survey in Parliament yesterday.
CII Director General Chandrajit Banerjee said in New Delhi that the Survey provides new ideas for building a positive momentum for growth in the coming year and for faster growth thereafter.
FICCI President Rashesh Shah said that the country has seen major structural reforms in the current financial year, such as the Goods and Services Tax, Insolvency Code and bank recapitalization.
He said it will boost the economy in the coming years.
On Economic Survey, Mr Shah said, the economy will start reaping benefits of these reforms in the next fiscal year and he looks forward to continuity in the reforms process displayed by the government.
Assocham President Sandeep Jajodia said while the Insolvency resolution mechanism has begun in the right earnest, a big vigil needs to be kept and the banks must be given additional capital at the earliest.