India has potential to take GDP to double digit, feels Arun Jaitley

Bhopal, May 30: Buoyed by the country's GDP growth of 7.3 per cent in FY 2014-15, Union Finance Minister Arun Jaitley today said India has the potential to improve the economic growth to double-digit.

"The country has the potential of taking the economic growth to double-digit. The government will take appropriate action in the regard," Jaitley told reporters here.

Underlining that manufacturing sector has registered a growth of over 7 per cent, Jaitley said this shows the revival of the industry is underway.

Jaitley said the economy could have registered more growth in agriculture "but due to weather conditions, much progress couldn't be made in this sector. Had the monsoon in the past been good the growth could have been more."

Jaitley said the gloom that prevailed (during the UPA regime) earlier has given way to a new enthusiasm in the country in the last one year.

"The decision-making is on the fast track (now)," he said, adding the country is going to make rapid progress in near future.

Jaitley said the image of India's leadership and its people has improved in the eyes of world in the last one year. As services and manufacturing sectors have registered a growth this is bound to generate additional employment avenues, the minister said.

Responding to a query on a UN report which claimed that India is home to the highest number of hungry people at 194 million, Jaitley blamed the previous regime for poverty.

To a query on India overtaking China to become the world's fastest growing economy in March quarter, Jaitley said the economic growth of China had been at 9 per cent for last 33 years.

Growth of Indian economy is expected to be higher than China in future and in this case the international investors will eye India, he said.

PTI