Structural reforms must for 7-8% growth: MoS

Tribune News Service
New Delhi, December 10
Minister of State for Finance Jayant Sinha today said India has a huge unexploited potential for growth which can make it a $5 trillion economy in the next 10 years. Sinha said deep structural reforms are required to create at least five million jobs every year and to ensure 7-8% economic growth as job creation and growth go hand in hand.

He said India needs to develop alternative model of growth based on mix of policies, including market driven entrepreneurship innovations, scope for larger private investment and free market economy in democratic polity among others. Sinha was delivering the inaugural address after inaugurating the two-day Delhi Economic Conclave 2014 here today.

He said the government believes in supply-side revolution with high productive capacity. He said structural reforms must result into macro-economic stability, world class infrastructure, unlocking of entrepreneurship and innovations, and world class social security system.