Jaitley underlines need to contain inflation, boost growth

Many key economic reforms including increasing FDI in the insurance sector, implementation of Goods and Services Tax, and the Direct Taxes Code remained in limbo in the last UPA government.

Hinting at immediate measures to be taken to strengthen the economy, he said “short-term (fiscal) disciplining till we reverse the present trend will give us long-term benefits”.  

He emphasised that there is a need to move towards an era of fiscal discipline with objective to reduce fiscal deficit, contain inflation and improve growth rate.  

“We must commit ourselves to this discipline so that in order to strengthen the Indian economy which can improve the quality of life of every Indian and pull out the deprived ones from the state of poverty,” he said.