<div><em><strong>Says the focus of the Modi government is also on the agriculture sector, reports Haider Ali Khan </strong></em></div><div> </div><div>Talking about India's growth architecture that focuses on beefing up rural infra, irrigation and reforms, Union Finance Minister Arun Jaitley inaugurated the direction of the government's economic transformation programme with the 'India Economic Convention 2015' on Thursday (17 September).</div><div> </div><div>Addressing a gathering of industry leaders, the Finance Minister said that the Narendra Modi-led National Democratic Alliance (NDA) government is fully clear on the direction that economic governance of the country needs to get through.</div><div> </div><div>Jaitley also said that the government is well prepared with “multiple layers of defence” for a rate increase by the US Federal Reserve. The US Federal Reserve will today decide on its interest rates, which have been kept near zero since 2009. It is widely anticipated that the US would raise interest rates as employment data has improved.</div><div> </div><div>"In a situation where there is turmoil almost by the day as far as global markets are concerned, we are trying to make the fundamentals of our own economy strong so that our ability to resist these changes can substantially improve,” he said.</div><div> </div><div>Jaitley said the country's electorate gave a huge mandate for governance to a single party in the last general elections and this had made the Prime Minister's Office the final arbiter in decision-making. </div><div> </div><div>The focus of the government, the Finance Minister said, is also on the agriculture sector, which is largely rain-fed and provides livelihood to 55 per cent of the population.</div><div> </div><div>"Our agriculture sector is dependent on rain. Our rain-fed area is huge and therefore, always continues to be fragile. Its fragility is added by the fact that for 15 per cent of our income, 55 per cent of our population depends on it,” said Jaitley</div><div> </div><div>Jayant Sinha, Minister of State for Finance in his address spoke about the growth model adopted by the government and how it has been different from that of the past.</div><div> </div><div>He said: “Our government wants to build India's productive capacity to achieve and sustain an 8-10 per cent growth steadily. Our approach is to power growth through supply interventions and investments, rather than a consumption-led, demand orientation."</div><div> </div><div>Sunil Bharti Mittal, Chairman, Bharti Enterprises , said that Indian and global investors need to cash in on the opportunities that have opened up through the launch of programmes such as Make in India, Digital India, Skill India and Swachch Bharat Mission.</div>
