Finance Minister Arun Jaitley today appreciated the fourth quarter GDP growth of 7.7 per cent and mentioned that the future looked much brighter than the past.
“The fourth quarter result of GDP data showed a phenomenal 7.7 per cent growth rate and has established India firmly as the fastest growing global economy. This trend, according to experts, is likely to continue for the next few years, he wrote.
“With structural reforms like demonetisation, the implementation of the Goods and Services Tax (GST) and the enforcement of the Insolvency and Bankruptcy Code (IBC), we had two challenging quarters,” Jaitley said adding that “those who predicted a two per cent decline in GDP growth have been conclusively proved wrong.”
He said a distinguished predecessor of his had feared that he may have to live his future in poverty. “We have enabled every Indian to be a part of the world’s fastest growing economy. The future looks much brighter than the past. This trend is likely to continue for some years,” Jaitley said.