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India has standardised itself for a 7-8 per cent growth rate: Arun Jaitley

Finance Minister Arun Jaitley on Thursday said that India has standardised itself for a 7 to 8 per cent growth…

India has standardised itself for a 7-8 per cent growth rate: Arun Jaitley

Finance Minister Arun Jaitley. (Photo: Twitter)

Finance Minister Arun Jaitley on Thursday said that India has standardised itself for a 7 to 8 per cent growth rate and would need Rs.50 lakh crore investment in next 5 years.

Delivering a lecture on ‘Roadmap to World Class Infrastructure’ on Defence Estates Day, Jaitley said: “India has standardised itself for a 7-8 per cent growth rate. India will need Rs. 50 lakh crore investment in next 5 years.”

Jaitley had earlier this week said that the government’s policy initiatives have initiated a set of “chain reaction” towards formalisation of the economy.

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The government recently took some major policy initiatives, including Goods and Services Tax (GST) and demonetization, aimed at formalization of the economy.

Jaitley had said that conventional minds would initially find the change difficult but as time passes, there would be an expansion of the economy.

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