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

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:

Politics

REUTERS SHOWCASE

Fund Raising

Fund Raising

Flipkart raises $700 million in fresh funding.   Full Article 

Reforms Push

Reforms Push

Modi may order insurance, coal reforms if vote delayed - officials.  Full Article 

Reuters Exclusive

Reuters Exclusive

India looks to sway Americans with nuclear power insurance plan  Full Article 

To Boost Growth

To Boost Growth

Crank up public spending to revive growth - chief economic adviser.   Full Article 

Bold Steps

Bold Steps

SpiceJet rescue plan marks bold bet on Indian aviation recovery.   Full Article 

New Airline

New Airline

Tata, Singapore Air venture Vistara to take off on Jan 9.  Full Article 

Online Sales

Online Sales

Knock knock. Who's there? Amazon's best-selling holiday author.  Full Article 

Hacking Attack

Hacking Attack

N.Korea says did not hack Sony, wants joint probe with U.S.  Full Article 

Reuters Poll

Reuters Poll

BSE Sensex to hit 32,980 by December 2015  Full Article 

Reuters India Mobile

Reuters India Mobile

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