Growth outlook looks better with signs of good rains: Finance Minister Arun Jaitley

RAIPUR: Calling India a "sweet spot" in the global economy, Finance Minister Arun Jaitley today said growth outlook this year looks much better with indications of good rains.

"This time, it looks like rains are going to be good and India can grow very well. There are signs (for that)," he said while addressing a conference here.

India clocked 7.6 per cent growth rate in 2015-16 when there was a global slowdown, and deficient rainfall for two years in a row, he said.

Jaitley said India is a "sweet spot" in the global economy and "growth outlook looks much better with indications of good rains this year".

On the impact of Britain exiting the European Union, the finance minister said, "We were the least impacted. People feared that currency and stock markets will crash, but we saw the impact for just one day."