Private sector expansion is needed, says Arun Jaitley

Gurugram: Finance Minister Arun Jaitley today said public and foreign investment remains intact, but private sector expansion is needed in a big way to let the economy start firing on all cylinders.

Observing that domestic investment continues to be a challenge, Jaitley called upon the banking sector to support corporates to propel growth.

“Indian private sector needs to expand in a big way. It needs to invest and that’s when all engines of economy (will) start firing,” Jaitley said while addressing a seminar on debt recovery here.

The minister spoke of liberalisation of FDI policies because of which India has emerged as a preferred destination of foreign investment.