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India has to grow faster, running against time: Jaitley
Washington, Oct 8 (IANS) India needs to grow at a faster pace, Finance Minister Arun Jaitley has said, while asserting that there was public support for the government’s reform initiatives despite the difficulties arising from implementing GST, for instance.
“The obvious challenge to the country is to grow and grow fast. It has to grow at a much higher rate than we have been growing in recent history,” Jaitley said in an address via video conference to the Berkeley India Conference prior to his departure for the US.
He is due to leave for the US on Monday to attend the forthcoming annual meeting of International Monetary Fund and World Bank here.
“I do hope that India is able to retain its growth rate once again and live up to the aspirations of its people because we must not forget that we not only have a large population to service, we have a very young population to service,” he said.
“We have to grow at a much faster pace,” he said, adding that a young and aspirational population wants change and reforms at a fast pace, and is impatient to see results.
“Time therefore is running against us,” Jaitley said.
Pulled down by sluggish manufacturing, growth in the Indian economy, during the first quarter (April-June), fell to 5.7 per cent, clocking the lowest GDP growth rate under the Narendra Modi dispensation.
On reforms, the Finance Minister said the Goods and Services Tax (GST) has resulted in creation of a national tax structure.
“In the three months, you have all the check points in states disappeared, you have clear flow of goods and services which has started all over the country,” he said.
Acknowledging issues related to compliance, Jaitley said the GST Council had noted these challenges and is taking steps to address them.
GST has been a “reasonable smooth transformation,” but there is scope for improvement, he said.
“I think in GST Council we have succeeded in creating India’s first federal institution.”
On the demonetisation of high value currency, he said the Indian normal was to live with a high-cash economy and not pay taxes.
“You buy a property, you transact partly in cash, and in business you maintain two sets of accounts,” he said.
“How can a country, which aims to be the fastest growing major economy in the world, which aspires to grow from a developing to a developed economy, continue with the normal of this type,” he asked.
He said demonetisation had led to a sharp drop in insurgent and terror activities in states like Jammu and Kashmir and Chhattisgarh.
“You are having terrorist incidents, but the fact that you were finding 5,000-10,000 stone throwers being provided with money by the terrorist organisations, why is it that in the last eight-ten months it has not happened,” he asked.
–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.
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