Finance Minister Arun Jaitley on Saturday attended the economic affairs review meeting chaired by Prime Minister Narendra Modi in New Delhi. Addressing the media after the meeting, FM Jaitley said that today it was the internal meeting with Finance Ministry. Department of Economic Affairs (DEA) gave a detailed presentation to PM Modi. The Prime Minister took a review of the various departments of the Ministry of Finance.

Briefing the media about the discussions held during the meeting with the Prime Minister, FM Jaitley said that PM was satisfied with the macroeconomic data. He said that the government will achieve higher growth rate more than what was projected in the previous budget meeting. 

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Continuing briefing the media, FM Jaitley invoked the demonetisation issue and said that it has impacted the economy as it was an anti-black money measure.  

On the GST factor and indirect taxes, Arun Jaitley said that the new tax regime is settling down. “With the kind of pickup in consumption which has taken place, it will have an impact on GST collection in future months. We are confident that between direct and indirect tax collections, the government would comfortably meet its target.”

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Concluding his briefing, Finance Minister Arun Jaitley said that the government is confident about the growth and will strictly maintain 3.3% fiscal deficit target.

Highlights

Arun Jaitley says government will meet its economic targets

Concluding his briefing after meeting PM Modi in the economy review meeting, Arun Jaitley said that the government is confident it will meet its economic targets.

Arun Jaitley on Demonetisation

Arun Jaitley said that they can see the impact of the demonetisation on the economy. Demonetisation was an anti-black money measure.

PM Modi satisfied with macroeconomic data

Speaking after the economy review meeting chaired by PM Modi, FM Arun Jaitley said that the Prime Minister is satisfied with macroeconomic data.

Briefing the media about the economy review meeting, FM Jaitley said that with regard to GST and other indirect taxes, GST is settling down and with the kind of pickup in consumption which has taken place, it will have an impact on GST collection in future months. We are confident that between direct and indirect tax collections, the government would comfortably meet its target.

Arun Jaitley said that the government is confident that it will have a growth rate higher than what was projected earlier this year in the budget. The inflation is broadly under control.

Addressing the media, FM Jaitley said that as far as capital expenditure is concerned, already we have spent about 44% of the budgeted expenditure till 31 August and we'll end the year without any cuts and will maintain the 100% capital expenditure.

FM Arun Jaitley briefs media on the economic affairs review meeting

Finance Minister Arun Jaitley said that the government is confident about the growth and will strictly maintain 3.3% fiscal deficit target.

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