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India needs strong, decisive leadership to promote growth, get rid of poverty: Jaitley
Oct-17-2018

Finance Minister Arun Jaitley has said that India needs strong and decisive leadership at the Centre to promote growth, get rid of poverty and transform the country into a developed nation. Outlining the challenges for India, he said being a net buyer of oil, the increase in global crude oil prices adversely impacts the country and hence the economy has to be strong to deal with it. He added noted that a weak leadership, within days of crisis, could not have handled IL&FS the way the present government did, and therefore a crisis in the making was handled with swiftness.

Talking about the political challenges facing the country, the minister said that these are thrown up by unstable coalition and aspiring politicians, who want to acquire the top place. Therefore, he pointed out that today what India needs is not individuals with lack of understanding of policies, lack of understanding of directions or inherently unstable coalition, but a government and leadership with absolute clarity about the direction so that this unique position referred to as a sweet spot by the International Monetary Fund (IMF) can be occupied for the next two decades.

Stating that domestic policies of certain countries have spillover effects on India, Jaitley hoped that such effects will not be everlasting and are transient in character. He said 'as a fast growing economy we have the capacity to face these challenges.' He noted that global oil prices, which have risen because of artificial shortages, has adversely impacted India. He informed that India imports 83 percent of its oil needs. Therefore, he said ‘we have to face that challenge by making our economy so resilient itself that we have the capacity to bear that challenge.'

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