Economy has come a long way: Jaitley

Cites IMF report for major progress
The Indian economy has come a long way in the last four years, Finance Minister Arun Jaitley wrote in a blog post on Sunday, saying that the International Monetary Fund (IMF) report on India in 2018 had noted improvements in indicators such as inflation, fiscal deficit, current account deficit, infrastructure, power sector, and allocation of natural resources.

“An analysis of what the IMF had to say in 2014 as against 2018 is very clear — high inflation, high fiscal deficit, high current account deficit, a standstill infrastructure, power sector, allocation of natural resources,” Mr. Jaitley wrote. “The last four years have seen a series of reforms, both legislative and otherwise…

“The system has been substantially cleaned up and made more transparent. Decisiveness has led to easier decision making and made the economy stand out before several other countries.”