The embassy noted Jaitley's contribution in initiating and implementing major economic reforms in India such as Goods and Services Tax (GST) as well as the efforts and measures taken towards combating corruption and improving the ease of doing business.
"Especially notable were his introduction of the Goods and Services Tax, efforts to improve the ease of doing business, and measures to combat corruption. Minister Jaitley recognised the importance of the US-India relationship and worked to improve the economic ties between our countries. The US Mission in India extends our deepest condolences to former Minister Jaitley's family and many friends, as well as to all the citizens of India," the statement added.
Jaitley passed away at the All India Institute of Medical Sciences (AIIMS) in New Delhi on Saturday afternoon. He was 66.
He first became a Cabinet minister in the government of former Prime Minister Atal Bihari Vajpayee in 2000, and then also went on to serve as the Leader of the Opposition in the Rajya Sabha from June 2009.
He was appointed the Finance Minister in the first term of Modi government in 2014. He opted out of the 2019 Lok Sabha elections citing health reasons.