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Republic Summit 2018 | From 'fragile 5' To Fastest Growing Economy, FM Arun Jaitley's Take On India's Progress In The Last Four Years

Written By Daamini Sharma | Mumbai | Published:

Finance Minister Arun Jaitley gave a keynote address at the inaugural Republic Summit wherein he touched upon the topic 'Silver bullet for the economy'. Finance Minister Arun Jaitley in conversation with the chairman of Goenka Group Sanjiv Goenka and Republic's Editor-In-Chief Arnab Goswami spoke about a number of issues. When Sanjiv Goenka asked Mr Jaitley:

"In the last four years, we have seen many changes. We have seen bold steps, we have seen great steps. I would like to hear from you about the principle achievement of this government and what you think remains to be done next time when your government remains in power?"

To which Mr Jaitley replied:

"If you compare the situation, and I am slightly digressing from the barrier that the honourable Prime Minister put in his speech and I had the opportunity to see it on the TV, were we on May 26, 2014, words used for India globally were that we were suffering from policy paralysis. Change, reform and improvement had also become impossible. Internationally respected journals and commentators had put us as the part of 'Fragile 5'. Our fiscal deficit had even touched 6%. Our current account deficits on 4.5-5%. UPA 2's 5-years combined inflation was 10.4%. The days of double-digit inflation was not a decade ago, they were just four year away".  

Read: You Cannot Ignore The Ladies: Former Chief Justice Of India Dipak Misra Talks About Gender Justice At Republic Summit 2018

Earlier in the day, Prime Minister Narendra Modi delivered the keynote address at the inauguration of Republic TV Summit, speaking on the theme of Surging India. PM Modi then went onto highlight the growth of India in the past few years and underlined the importance of Surging India - the theme of the annual summit of Republic TV.

"Surging India - the two words - are the expression of 130 crore Indians. These are the feelings, vibrations which the world is witnessing. In the world society, India's growth is moving ahead in a very fast manner. India's image in front of the world is getting better with each passing day," he said.