Speaking on the completion of three years of the Modi government, Arun Jaitley, stated that the current government has restored the credibility of the Indian economy. The finance minister also expressed concern over slowdown in global trade, protectionism, and geopolitical uncertainties.
Jaitley pointed out that the Modi government has worked to restore the Indian economy’s global credibility after it inherited a system that had been weakened by corruption and indecisiveness. He added that prior to PM Modi coming to power there was slowdown in policy reforms and structural changes in India.
The finance minister also stated that the reforms carried out by the government have made India the biggest recipient of Foreign Direct Investment (FDI). Jaitley also hailed the demonetization move as it helped quash the parallel economy in the country and made the cashless economy the new normal.