Election Victories Will Lift Growth And Boost Reforms: Arun Jaitley

Finance Minister Arun Jaitley has expressed hope that India will meet growth expectations in spite of patchy monsoon. He said that he expects economic activity to pick up in the second half of this financial year.

India's GDP grew at 5.7% in the April-June quarter, the highest in more than two years. The Economic Survey has projected growth in the current financial year to be at 5.4-5.9%.

"Because of a late monsoon I expect the kharif (crop) to be much better. Therefore, even if we may have a more modest second quarter, I do hope there is a better third quarter and fourth quarter," Jaitley said.

The finance minister said that the government's numbers in the Rajya Sabha would increase following BJP's victories in Assembly elections, thereby helping it push reforms in the Rajya Sabha. Talking about the Maharashtra election, he said, "I would have been happier if we had 20 seats more, do not forget BJP alone did well... The party will take a view but because we are committed to giving a stable government, whatever is the best option in the larger interest of the people of Maharashtra, we will take that view."