No intolerance, India continuing to attract FDI: Arun Jaitley

There is “much more tolerance in India” if one goes by the content of the presidential election speeches in the US, Finance Minister Arun Jaitley has said.

Asserting that there is “no intolerance on the ground” in India, he said the country has continued to attract substantial foreign investments as the fastest growing economy.

“There is no intolerance on the ground. If one reads presidential election speeches in the US, there is much more tolerance in India,” he told BBC Hindi in an interview.

Jaitley, who is on an official visit to the US, said media reports about intolerance in India does not impact foreign investment in the country.

India, he said, is the fastest growing major economy in the world and has received record foreign investment which is a reflection of effectiveness of government’s economic agenda.

“Irresponsible statements by one or two persons does not vitiate the atmosphere, but becomes news for media,” the Finance Minister said, adding the sharp political reaction to those who talk about breaking the country is obvious.

He further said thinking in the US about India has significantly changed and the commercial ties between the two countries have improved rapidly.

Regarding the pending Goods and Service Tax (GST) legislation, Jaitley expressed hope that it would be approved by Rajya Sabha where the numbers would be soon in favour of the new indirect tax law.

He also said that with better monsoon and improvement in global economic situation India’s economic growth could surpass 7.5 per cent in the current fiscal.

On hike in the US visa fee, the minister said he took up the matter with American authorities.

He said Indian IT professionals are doing well all over the world and there should be no discrimination against them.