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Finance Minister Arun Jaitley calls on the Prime Minister of Singapore

Finance Minister Arun Jaitley called on the Prime Minister of Singapore, Mr Lee Hsien Loong on the second and last day of his two day official visit to Singapore on November 16th. They discussed the meeting between the two Prime Ministers and elevation of India-Singapore Partnership to a strategic level and actions taken to translate their vision.

Both the leaders discussed at length the roll-out of the Goods and Services Tax (GST), issues of common interest, such as bilateral trade and investment, and measures to increase the engagements in these areas and the further road map for enhancing India- Singapore Economic and Commercial ties.

Mr.Jaitley in his Keynote Address at Morgan Stanley 16th Annual Asia Pacific Summit in Singapore  on "India: Structural Reforms and Growth Path Ahead " explained the current state of India’s economy, outlining the key reforms being implemented by the present Government with a view to position India as an attractive global investment destination.

He specifically mentioned the roll-out of the monumental tax reform, GST; the Bank Re-Capitalization package, Ease of Doing Business in India, crackdown against black money, Demonetization and other follow-up measures; and reforms in the Foreign Direct Investment (FDI) Policy regime.

The Finance Minister re-iterated his Government’s commitment for both increasing the public expenditure on infrastructure and creating environment for private participation in infrastructure to boost employment and provide impetus to overall economic growth.

He also addressed the senior fund managers and the key Financial Institutional investors and answered queries on various tax issues including GST, Fiscal policy, impact of the Bank Re-Capitalization Package on banks' NPAs, Insolvency and Bankruptcy Code (IBC) and so on. He also met with the Senior Management of Morgan Stanley.

Mr. Jaitley also met the Chairman and Board of Directors of Temasek, Singapore; one of the largest investment companies in Asia, and discussed the investment opportunities available across various sectors in India including, their investment in the National Investment and Infrastructure (NIIF).

He left for New Delhi late in the evening on November 16 after completing his two day official visit to Singapore.


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