Indian economy recovering from temporary blip: Jaitley
November 16, 2017  12:57
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India's economic slowdown has bottomed out and now it should start moving upwards after recovering from the "temporary blip" seen during the recent structural changes, Finance Minister Arun Jaitley said today.


Addressing investors at the Morgan Stanley annual conference in Singapore on 'India: Structural Reforms and Growth Path Ahead', Jaitley talked about the "massive" economic reforms undertaken by India.


He acknowledged that there was a "temporary blip" as a result of structural changes that were initiated by the government. "I think the bottoming out of the economy is complete and now it should start moving upwards. The global economy is also moving up," said Jaitley.


As part of the summit, Jaitley met the senior management of Morgan Stanley and addressed a gathering of senior fund managers and key financial institutional investors.


"How do I see the economy moving? our basic parametres are quite stable. And we grew between 7-8 per cent over the last three years,' he said. "Therefore, we need over the next, at least, a decade, if not more, significantly higher growth rates in order to go ahead with expansion plan of the Indian economy,' Jaitley said. The finance minister also assured investors of a strong banking sector in India. -- PTI
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