FM says protectionism non-existent in India

FM says protectionism non-existent in India

 Finance Minister Arun Jaitley said that the rhetoric of protectionism that is picking up in developed countries is non-existent in India, with the country being open to further investments.

Speaking at the Make in India - Karnataka conference here on Monday, Jaitley said, “There is not a single whisper of protectionism that is being heard in India. All that is happening in the developed world. This itself is a tribute to the fact that the country is willing to accept investments and tune its policies.”

Jaitley also said that growing aspirations and impatience among the youth is putting pressure on the government to perform better.

“There are several features that are visible across the country — both among the policy makers as well as the people. One among them is that India has become increasingly an aspirational society,” Jaitley said.

“Therefore, there is a huge amount of impatience among the people that we want to grow faster and faster, we want to get rid of poverty, we want to improve the standard of life,” he added.

Jaitley further added, “And this impatience coupled with the great aspiration to move forward is itself a pressure on policy makers to grow faster. The environment in support of reforms has never been as supportive in past as it is today."

“And therefore, it is our responsibility both in the state as well the Centre to really put ourselves together and look at the roadmap that we have of continuing this growth. And the best example of this is that even at 7% plus growth rate, India is not a satisfied nation. It has a hunger to grow more faster,” he said
Jaitley added that this pressure is putting “impetus on us” to perform.

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