Finance Minister Arun Jaitley on Friday said that India has the potential to grow at a high speed over the next two decades, PTI reported. “This is mainly because of the series of structural reforms being carried out by the government, turnaround in the global economy, and the massive investment opportunity that the infrastructure sector offers,” Jaitley said at an event organised by the US-India Strategic and Partnership Forum in Washington.

He said the government was aware of the short-term glitches for steps like demonetisation and the Goods and Service Tax. “But, in the long term, it would benefit the country.” India’s GDP growth reached a three-year low of 5.7% in the first quarter of the 2017-’18 financial year. The government’s demonetisation exercise and the implementation of the GST were blamed for the economic slowdown.

Jaitley told the investors and corporates that the BJP government at the Centre had changed the whole environment of doing business in a matter of months. He said Indians now use technology in a big way. “Today, almost everyone is connected to the banking system. Almost every adult in India has biometric. The integrated data has helped the government to reach every citizen on digital platform,” he added.