Jaitley, speaking at an event in Hong Kong, also said a draft of India's bankruptcy law was almost ready and he hoped to submit it to parliament in the near future.
India's economy grew 7.3 per cent last year.
The government is aiming for 8-10 percent annual economic growth, the junior finance minister said last week.
Image: Finance Minister Arun Jaitley speaks at an Economist conference in New Delhi, September 9, 2015. Photograph: Adnan Abidi