Jaitley says growth cannot be compromised at any cost

NEW DELHI Mon Jun 9, 2014 5:07pm IST

Arun Jaitley (L) listens to Reserve Bank of India (RBI) Governor Raghuram Rajan during a financial stability development council meeting in Mumbai June 7, 2014. REUTERS/Stringer

Arun Jaitley (L) listens to Reserve Bank of India (RBI) Governor Raghuram Rajan during a financial stability development council meeting in Mumbai June 7, 2014.

Credit: Reuters/Stringer

Related Topics

Rajalakshmi (C), 28, smiles after winning the Miss Wheelchair India beauty pageant in Mumbai November 26, 2014. REUTERS/Danish Siddiqui

Miss Wheelchair India

Seven women from across India participated in the country's second wheelchair beauty pageant, which aims to open doors for the wheelchair-bound in modelling, film and television, according to organisers  Slideshow 

NEW DELHI (Reuters) - India's economic growth cannot be compromised at any cost, Finance Minister Arun Jaitley said at a pre-budget meeting, adding the government must also contain inflation and concentrate on fiscal consolidation.

Asia's third-largest economy grew 4.7 percent in 2013/14, marking the second straight year of sub-5 percent growth, the longest slowdown in more than a quarter of a century.

Investors are keenly awaiting Jaitley's first budget, due in early July, to see whether he will stick to a strict path of fiscal consolidation laid out be his predecessor or boost spending to revive the economy.

"Mandate of 2014, clearly spells out that economic growth cannot be compromised at any cost and is sine quo non to reap the benefits of the demographic dividend," he said in a speech to state finance minister posted on his Facebook page.

(Reporting by Delhi Bureau, Writing by Rajesh Kumar Singh; Editing by Frank Jack Daniel)

FILED UNDER:

REUTERS SHOWCASE

Kashmir Attack

Kashmir Attack

Ten dead in Kashmir's worst militant attack in more than a year  Full Article 

OPEC Meeting

OPEC Meeting

Gulf states seek to block OPEC oil output cut.  Read 

E-Commerce Boom

E-Commerce Boom

Online grocers come up trumps in India's e-commerce boom   Full Article 

GDP, RBI Preview

GDP, RBI Preview

GDP growth set to weaken, business wants reforms more than rate cut  Full Article | Related Story 

Jaitley to Rajan

Jaitley to Rajan

Jaitley likely to meet Rajan on Monday to urge rate cut  Full Article 

Banking Sector

Banking Sector

RBI releases final rules for niche bank licensing  Full Article 

Jamini Roy

Jamini Roy

Photo Gallery – Bengali household name Jamini Roy’s paintings  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage