What one expects from the tenure of Jaitley
Arun Jaitley has finally taken office as a finance minister and he is laying special emphasis by restoring the growth as inflation is controlled as well as refining the budget deficit at the same time. Since he was the commerce minister during the Vajpayee government from 2003 to 2004, he will make sure that the exporters as well as the importers have discussed their problems with him.
His record has been somewhat mixed. Not only had he put a lot of effort for making a special legislation on the Special Economic Zones, but also represented India in the fifth ministerial conference at Cancun, Mexico in 2003. Even though India got into trade agreements in 2013 with Thailand, Korea, Mercosur and ASEAN, not much benefit has been seen by the Indian exporters.
However, one cannot doubt about Jaitley’s pro business credentials. He has made the stringent foreign investment rules much easy. Some of his works such as trade agreements, SEZ credits and duty credits was successful for a while before it failed. To be very honest, it was only Jaitley who had got things going. Many developments have also taken place since he left the commerce industry. So, there shouldn’t be too much inferred about his capacity and abilities.
Source – TNC Rajagopalan
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