Need to rebuild confidence in Indian economy: Jaitley

New Delhi, May 27 (IANS) The Indian economy is passing through a very challenging time and there is need to re-build confidence of global and domestic investors in it, newly sworn-in Finance Minister Arun Jaitley said Tuesday after taking charge.

"The challenges are very obvious. We have to restore back the pace of growth, contain inflation and obviously concentrate on fiscal consolidation," Jaitley told reporters after taking charge at the North Block office here.

He said political changes have sent a strong signal to the global as well as domestic investors and it will help rebuild the confidence in the Indian economy.

"The mandate that our government has received has an inbuilt hope in it. Political change itself sends a strong signal to the global community and also the domestic investors," he said.