Jaitley says govt. to unfold disinvestment's of its stakes in PSUs

Finance Minister Arun Jaitley has said that government is planning to unfold disinvestment's of its stakes in Public Sector Undertakings, PSUs, to revive the economy. Addressing 25th India Global Forum in New Delhi, Mr.jaitley said that the government is considering to bring down its stake in PSU banks by 52 percent to invite capital inflow for successful implementation of financial inclusion. He said, the Modi-led government is tax friendly and is committed to give exemption to those who are not in position to pay.

On the issue of Goods and Services Tax, GST, Mr Jaitley said, government is in the last stage on discussion with State governments and hoped that the amended GST will be brought in the winter session of the Parliament. The Minister said that economy was and is in challenging situation and one of the prime challenges for the government is to restore confidence of the investors.Expressing confidence on initial trends in economy, Mr Jaitley said that if these trends continue, India will definitely manage to grow at a moderate rate in next two to three years. On the issue of Insurance Bill, the Minister said that government hopes to get it passed in the forthcoming winter session.