Good Monsoon will help Indian Economy to grow faster says Jaitley


New Delhi: Finance Minister Arun Jaitley today expressed that despite the slowdown in the world dominated India is the fastest growing economy and government is increasing job creation and giving priority to keep inflation under control.

Jaitley told in the Lok Sabha, our growth rate in 2014-15 was 7.2 percent, 7.6 percent in 2015-16 and is projected to grow by 7.5 percent in the current year. We are moving at a fast pace.

Latest forecasts predict above average rainfall in India. Rainfall will help to improve the agriculture sector hence the GDP of the country.

The Finance Minister also refuse to apply tax on agricultural income says agriculture is already under stress. But he said under the federal structure, the state governments have the power to impose such agricultural tax.