Digitisation Helps Formalise Economies: India’s FM Arun Jaitley

11/15/2017 2:44:54 PM
written By : Team India Se Print

India’s Finance Minister, Arun Jaitley said that digitisation helps to get economies formalised while also stressing that three key initiatives – creation of the Aadhar platform, demonatisation and the introduction of the Goods & Services Tax (GST) are steps in that direction.

Delivering the keynote address at the Singapore Fintech Festival, he said that while these steps will face challenges in the short run, but in the medium to long run they would no doubt be beneficial to all.

Talking about the Indian economy, Jaitley said that the country has had a  stable economy especially when many of the world economies had slowed down. It has maintained a growth rate of 7 per cent, the macro economic paratmeters are under control, fiscal deficit has been declining, inflation too have been coming down and a stable currency.

Jaitley is also scheduled to address the Asia Pacific Summit - an annual meet of global financial institutions being organised by Morgan Stanley, call on Singapore’s Prime Minister, Lee Hsien Loong, Deputy Prime Minister and Coordinating Minister for Economic and Social Policies, Tharman Shanmugaratnam and Minister of Finance,  Heng Swee Keat.  The minister will also have series of meetings and roundtables with Singapore based and global investors.

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