Millennium Post

Need to ease entry barriers for MNCs: FM

Need to ease entry barriers for MNCs: FM
“Best response to poverty eradication is high growth rate. Sluggish economy cannot eradicate poverty. They can only distribute poverty,” he said. Jaitley underlined the need for relaxing norms for the entry of MNCs to promote growth which he said is essential for creating jobs and raising the government’s resources. “We have to make entry point into India easier for large global corporations to grow, for large Indian corporations to become global. We have to ease the process of doing business,” he said.

He stressed on “ease of doing business, the stability of policy, maturity of political decision makers, maturity of political process in reaching the correct decision rather than creating hurdles, from our infrastructure to taxation. We have to become globally competitive”.

The economy is likely to grow at 7.4 per cent in the current fiscal and is expected to accelerate to 8-8.5 per cent in the next fiscal beginning April 1.

Jaitley, in his budget speech, had announced a host of steps to boost growth and improve ease of doing business.

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