Union Finance Minister Arun Jaitley made a series of announcements yesterday including laying of several thousands of kilometers new roads.

Speaking to newsmen yesterday, Jaitley noted that the Indian economy had been registering significant growth for the past three years in general and in particular since Narendra Modi took over as the Prime Minister in May, 2014. We are capable of taking on any kind of economic challenges and thanks to the discussions during the past few weeks, we have reason to believe that the economic situation is very good.

“We plan to lay coastal roads for 2000 kms under the scheme ‘Bharat Mala’ which would be formally announced soon.  In the next few years, 34800 kms of new roads would be laid at a cost of several thousand crores. We also plan to attract investment to the tune of 535000 crores. Percentage of shortage of stock is less than 2% now. GST is a huge reform which has helped arrest black money. We have been witnessing the weakening of inflation from 2014 onwards,” he said.

It was also informed that the Union Cabinet had cleared a proposal to grant Rs.2.11 lakh crores to public sector banks so as to further strengthen the banking system and infrastructure in the country.