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Challenge before us to maintain reform pace: FM at IMF event

The focus of the Narendra Modi government is keep the reform machine moving at the same speed at which it has so far into its tenure, Finance Minister Arun Jaitley said today.

“India is one of the fastest growing large economies. We hope to continue to remain that way in the immediate years ahead,” Jaitley said. “But we continue to face challenges, from a sluggish global growth environment to weakness in certain local sectors.”

The FM listed rural health, state-run banks, private sector as “challenges” and said the government was working towards augmenting these sectors, along with pushing along on its focus on highways.

Jaitley was speaking at Advancing Asia, a three-day conference that the government is co-hosting with IMF.

Contrary to the perception of political stubbornness, the FM said the “popular mood” in the country was increasingly becoming “growth-oriented” even across party lines.

“Since 1991, we have never abandoned a single legislative reform that we took up. Things move a bit slowly here but they do,” he said.

Watch video for the press conference that the FM addressed along with IMF chief Christine Lagarde.