'India at 60: A New Age for Business'
Speaking at the Asia Society in New York yesterday, Finance Minister P Chidambaram said that India will introduce more reforms to create wealth and the space needed for public investment with the larger aim of making economic growth inclusive
More FM-SPEAK:
++ I am confident of maintaining the high growth rate in the medium term, but need some more reforms in the long term.
++ those who could afford the clothes to wear and food to eat did not have access to some basic essentials to lead a normal life like potable water, sanitation and road connectivity.
++ They depend on public services. It is difficult to deliver public services. But reforms will ensure growth, more tax revenue and allocation of money for health and education.
++ Reforms will create millionaires in India, money to allocate, to establish facilities abroad and to take public services to the people.
++ Growth with equity is the only way forward to achieve that goal.
++ the country lost decades of development and growth due to colonization and bureaucratic hurdles.
++ India will be able to wipe out its revenue deficit by next year and will bring the fiscal deficit below 3 percent.
++ investments in the country had already exceeded the savings rate.
++ We brought down the fiscal deficit to 3.3 per cent this year and it will be brought down to below 3 percent by next fiscal year.
++ Unlike China, we did not prevent our people from consuming goods and services.
++ The Taj Mahal, the Himalayas and the Ganga stand as sentinels for India's incredibility. But what can make it credible is when it becomes strong and prosperous.