Washington: The new Indian government has been able to address the country's most pressing economic problems and reduce the costs of doing business in less than a year after coming to power, Finance Minister Arun Jaitley has said.

"India is one of the bright spots in the economy because of the reforms we are undertaking and its rising growth prospects," Jaitley, who is currently visiting Washington to attend the annual Spring meeting of the International Monetary Fund and the World Bank, said.