17 September, New Delhi
Finance Minister Arun Jaitley has said the government will resolve outstanding tax disputes over the next few days through judicial or executive resolutions.
Addressing India Economic Convention 2015 in New Delhi Thursday , Jaitley said while a number of tax disputes have been put to rest since the BJP government took office others are being resolved. The Finance Minister impressed upon the need to attract more investments for the manufacturing sector as without investment, there will be no additional economic activity in the country.
Expressing concerns over the Agriculture sector, Jaitley there is need a structural improvement in it as large number of population depend upon it. He said the government is going to invest about 50,000 crore rupees in the irrigation projects to improve the rural economy. Jaitley said, there is need to divert resources to Skill India and other infrastructure projects to create job opportunities.
Stating that the system of allocation of natural resources has been rationalised, the finance minister said there are many other reforms in the pipeline. Jaitley, said due to decline in the oil prices globally and lower subsidy bill, the government is able to divert more resources to infrastructure projects.
In an apparent attack on the previous Congress governments, Finance Minister said the 70s and 80s were the decades of low growth as that point of time Prime Minister office was marginalized and the decision making power was outside the government. He said under the new dispensation those power have been restored.
The Minister of state for Finance, Jayant Sinha, who was also present in the event emphasized to build India’s productive capacity to achieve 8 to 10 percent steady growth. He said there is need to build an economy which have more demands and consumption capacity.