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Infrastructure Development is the Key to Growth: Arun Jaitley

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India is doing good in terms of spendings on infrastructure development, but the momentum has to be sustained says, Finance Minister Arun Jaitley at the FICCI Annual general body meeting.

Mr. Jaitley emphasised the need to continue the momentum on infrastructure creation and expedite investment in railways to propel the Indian economy.

He said government has taken many structural reform and the process will continue further. Addressing industry association FICCI’s annual general meeting in New Delhi the Finance Minister said India has had one of the highest infrastructure spendings in the world but the momentum needs to be sustained.

Explaining the rationale for massive capital infusion plan in public sector banks, Jaitley said that lending capacity of banks was constrained due to capital inadequacy.

Improving lending capacity of banks will be government’s priority for the next year.

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