The Finance Minister Arun Jaitley today held press conference to speak on performance of NDA government led by the Prime Minister Narendra Modi in the first year in office. Following are the highlights of his speech:

The one year shows the direction in which the Government led by PM Narendra Modi is working

Not only in India, but in the entire world, the respect for India and the PM Narendra Modi has increased

PM Narendra Modi visited 18 nations; India has occupied a pre-eminent place in the global arena

Initiatives undertaken in sectors such as power, coal and mining are noteworthy; they show a transparent model for reforms

Various impactful initiatives taken by different Ministries, such as Rail Ministry and other infra sectors

The expansion of space in J&K for mainstream political parties is a major achievement for the nation

The previous environment of gloom has been replaced by a climate of enthusiasm

The newfound zeal makes people restless with even a growth rate of 8%

Decisiveness even in the face of obstructionism has been an important hallmark of the NDA Government

The nation is not ready to accept slow decision making

There is absolute clarity with regard to which the direction in which the Government wants to go

The direction in which Government wants to go is towards growth and development

Decisions are regularly taken by the Government which will augment growth and development

Measures taken to improve ease of doing business, expand economic activity and bring transparency in governance

Decisions have been taken to bring in transparent and principle-based - not person-based - decisions

Coal Block auctions example for transparent decision-making, ending Ministerial discretion

Measures have been taken to make taxation an instrument of promoting growth

The most important reform since independent India, in the area of indirect taxation, is being brought about - the GST

High taxation rates are never investor or economy friendly

Government has taken measures to bring direct taxation rates to globally competitive levels

We are working in the direction of resolving legacy issues plaguing taxation

Has witnessed very clear and cohesive decision making

A very important highlight of the Government has been to give a corruption-free administration to this country

The Government has strengthened the system of federalism

NITI Aayog has been constituted, as an important pillar of the Government''s initiative to strengthen federalism

The revenue realized through Coal Block auctions shall go to states - an example of cooperative federalism

The overwhelming support of regional parties to mining law, coal law and GST is directly attributable to the attitude of GoI to states

Management of the fiscal deficit as well as its quality is equally important

The abuse of investigative agencies is now a thing of the past Arun Jaitley at presser on

Resources for major infra projects are available in abundance, our capacity to spend them must now increase

Important parameters like fiscal & current account deficits, growth rate, revenue figures etc. have stabilized

Government has a clear roadmap for the coming year

GST Bill, Land Bill, resumption of work on 16 stalled projects planned for coming year

Various initiatives announced in Budget 2015 which are to be taken up in the year ahead

The disinvestment proceeds in the last year has been the largest ever in a single year

The banking sector was under a lot of pressure due to the global slowdown

Appointments of executives and board members of banks has been professionalized

Will continue to squeeze black money generation by passing more legislation in coming year

This has shown results, by way of reduction in Non-Performing Assets

Government has decided to increase public investment in agriculture (specifically irrigation) and rural infrastructure

The new insurance schemes launched by the Government have reached 7.5 crore people in a few weeks

The insurance schemes will bring the benefits of insurance to the common man

India is an unpensioned society; Govt. schemes will improve upon the current pension cover of 11%

India one of most sought after investment destination. Moody''s, S&P, DBRS & JCRA -Upgrade ratings

Govt. will make every effort to ensure that GST is implemented on the announced deadline