FM: Government to now focus on increasing the banks’ ability to support growth

The Union Finance Minister, Shri Arun Jaitley said that Indo-US trade will get a boost due to business to business, business to Government and Government to Government interaction between the two countries. The Finance Minister said that foreign investment is important for India in order to have larger investment in infrastructure sector. Shri Jaitley said that the Government will now focus on increasing the banks’ ability to support growth. The Finance Minister was speaking when the members of the visiting US CEOs Forum called on him in his office here today. The Finance Minister further said that enabling Constitution Amendment Bill relating to Goods and Service Tax (GST) has been recently approved unanimously by both the Houses of Parliament. Besides it, the Bankruptcy Code has also been approved. The Finance Minister said that all these legislations along with different structural reforms made by the Government in the last two years will help in boosting the growth and the overall development of the country.

The members of the US CEOs Forum included Mr. Jim Taiclet, Chairman, President and CEO, American Tower Corporation (ATC), Mr. Douglas L. Peterson, Chief Executive Officer and President of S&P Global Inc. (formerly McGraw Hill Financial, Inc.), Dr. Paul E. Jacobs, Executive Chairman and Chairman, Qualcomm Incorporated, Mr. Eric Alexander, Head of Business, Uber APAC, Dr. Mukesh Aghi, President, US-India Business Council (USIBC) and Ms. Nivedita Mehra, Country Director – India-USIBC Mr. Sanjay Bhatnagar, President and CEO, Water Health International, Mr. Dinesh Paliwal, Chairman, President and CEO, Harman International, Mr. Amit Agarwal, Vice President and Country Head, Amazon India, among others.