There is clear evidence now that slowdown effect of demonetisation and GST has now more or less played it out, said finance minister Arun Jaitley

Participating in an interactive seminar organised by FICCI on “India Opportunity”, Jaitley spoke on the bold reforms carried-out in India, which now have created opportunities in Infrastructure assets resolution under Insolvency and Bankruptcy Code (IBC) process and in financial sector.

He said the Indian economy is poised for strong, sustainable and balanced growth backed by the government of India’s strong focus on implementing structural reforms.

The implementation of the GST from July 1, 2017 and its gradual complete transition, follow-up to demonetisation, and enacting other structural reforms by the government would take the economy towards higher growth trajectory, he added.

The finance minister said that FDI flows to India have increased in 2016-17 over 2015-16, indicating improved global confidence in the Indian economy.