Series of reforms transformed the Indian economy, says Arun Jaitley
Updated : August 27, 2018 07:17 AM IST
The report of 2014 talks about weak economy during the UPA government and the latest points at near-term macroeconomic outlook broadly favorable and growth forecast rising to 7.3 percent in FY 2018-19.
Quoting the IMF report of 2014, released in February, Jaitley said there was high fiscal and current account deficits as well as a standstill in infrastructure, power and in the allocation of natural resources.
Headline inflation averaged 3.6 percent in FY2017/18, a 17-year low, reflecting low food prices on a return to normal monsoon rainfall, agriculture sector reforms, subdued domestic demand, and currency appreciation
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