8-10% growth, anti-poverty measures needed: Jaitley on Census

New Delhi, July 5

Pitching for passage of land acquisition and GST Bills in Parliament, Finance Minister Arun Jaitley on Sunday said policy reforms and economic growth at 8–10 per cent were vital to eliminating poverty.

With Congress and other opposition parties threatening to disrupt the upcoming monsoon session, Jaitley said the Socio Economic and Caste Census made one thing clear: "growth and economic reforms help the poor as do targeted schemes".

The Census results, released on Friday, show that every one in three families living in villages is landless and depends on manual labour for livelihood.

 Jaitley said improving this situation is the government’s first priority.

"Growth or redistribution? Policy reforms or targeted anti-poverty schemes? We believe both are necessary," the Minister said in a Facebook post.

The way out to eliminate deprivation, Jaitley said, "is to achieve rapid economic growth of 8-10 per cent so that good jobs are created for all Indians quickly. That is why the government is promoting investment."

He said for the government to eradicate deprivation most effectively and quickly, "a permanent, formal sector, well-paid job is the best anti-poverty measure".

The latest data, the Minister said, indicates that the investment cycle is slowly turning around and stalled projects were coming on stream at a faster pace.

 "Passing the GST and reforming the land law will accelerate this investment turnaround," he said.

The controversial Bills are currently being examined by committees of Parliament.

The two Bills, as well as controversy involving External Affairs Minister Sushma Swaraj, Rajasthan Chief Minister Vasundhara Raje and former IPL commissioner Lalit Modi is also likely to make the Monsoon session, which will begin on July 21, stormy. PTI