'GDP Figures Show Economy is on Recovery Path,' Says Arun Jaitley: Highlights

New Delhi: Finance Minister Arun Jaitley addressed the media a day after figures showed that India's GDP grew at the fastest pace in over 2 years. The press meeting was also attended by Commerce Minister Nirmala Sitharaman.

Here are the highlights from the press meet:

• After 30 years, we have a single party-government in the country. Therefore decision-making has been easier.
• We created a special mechanism for resolution of tax disputes.
• We have allayed investor fears on retrospective tax.
• We took a firm decision on insurance. I hope insurance bill will be passed in next seesion of parlimanent
• The raising of FDI in defense has been accompanied, by a series of other steps
• In term of investment mood, there is a sea change.
• Most sectors are indicating a positive feel, in face of challenging monsoons.
• Manufacturing curve has turned, services are looking up.
• I am sure the impact (of government's long term policies) in coming quarters would be much larger.
• Select committee will soon start work on the insurance bill.
• In relation to the Jan Dhan Yojana, we had expected a launch with 1 crore bank accounts. As of yesterday afternoon, we dclared that we had crossed 1.8 crore bank accounts.
• As of noon today, we have 2.14 crore bank accounts.
• Lok Sabha poll results were a mood changer.
• The economy is on recovery path as shown by GDP figures.
• Long-term impact of decisions taken in 100 days will be gradually felt.
• We have an ambitious disinvestment plan.
• We will discuss with all major political parties to see if some flexibility (slight enlargement of exemptions) can be available under Land Acquisition Bill.
• Food inflation is a concern; normally at a time when prices of some fruit and vegetable are steep.
• Growth rate of 5.7% in first quarter is encouraging.
• I do see a positive attitude from some of the principal opposition parties in connection with the insurance bill.
• I am sure we would be able to move towards some kind of larger consensus with states on GST.
• We can't allow fate of coal blocks to hang in mid-air. I hope this decision doesn't linger on.
• After Iraq crisis, it looked like oil prices would go out of control but they have moderated to a comfortable level.  
• We hope Insurance amendments are passed in next session of parliament.