Finance Minister Arun Jaitley cuts short China visit

According to media reports, a Jaitley aide said that Swamy’s Twitter attacks can not be dismissed as an independent voice because he is a member of the party. Thus far, seven rounds have been held – the last one in December 2014 in New Delhi.

Finance Minister Arun Jaitley said the government is seeking private sector participation in converting railway stations into commercial hubs.

Jaitley also offered India’s support in establishment of a regional office of AIIB in New Delhi to effectively cater to this potentially large portfolio and speed up the process of project development, monitoring and implementation.

On Sunday, he would take part in a seminar discussion Infrastructure and Global Economic Growth along with Chinese finance minister Lou Jiwei, Pierre Egide Gramegna, minister of finance, Luxembourg, Imad Najib Fakhoury, Minister of Planning and International Cooperation, Jordan, Jin Liqun, AIIB President, Chris Heathcote, CEO, Global Infrastructure Hub.

“The government and the Reserve Bank of India as well as other regulators are well prepared, and working closely together, to deal with any short term volatility”.

The comments sought to reassure investors after the NSE share index fell as much as 4.2 percent and the rupee slumped to a almost four-month low after the Brexit vote.

Outlining a host of measure initiated by his government, Jaitley said Goods and Services Tax (GST) bill which is pending in Rajya Sabha is expected to be passed soon.

That is the kind of investments we require. “It is only when the public finances are put into it, you start attracting and the activity begins a lot of private funds”. Monsoon plays very important role in India’s economic growth.

The minister acknowledged however, that “Brexit” would cause financial uncertainties for India and other markets around the world. “We grew by 7.6 % past year”. In the immediate future we will maintain a good growth rate. Jaitley is scheduled to arrive in Beijing later in the day.

“And for a large number of Chinese investors present here, I think having gone through that experience in China, we are now passing that phase where there is massive infrastructure programme which is on India”. “How long will this (global slowdown) continue and how world will pull itself out of this situation and how does growth return to the world…”