Finance Minister Arun Jaitley today asked the private sector to make the most of the demand uptake following a good monsoon and softer interest rates.

Addressing the Madhya Pradesh Global Investor Summit in Indore today, the Finance Minister said, this year, fortunately as a result of goods monsoon, India has surplus food grain production which will improve domestic demand.

He explained, with a controlled inflation which means moderation of interest rates, the cost of capital is reduced. Mr Jaitley said, with these advantages, private sector has an opportunity ahead of it.

The Finance Minister said, India became world’s largest fastest-growing major economy on the back of a spurt in public spending and with private sector joining the bandwagon more engines will be created to spur growth.

Mr Jaitley said, normally, the industry remains ahead of the government, but at present the private sector is a little behind the government. So, the private sector has to come up to spur growth, he said.