Budget Will Have ‘Plan Of Action’ On Economy: Prakash Javadekar
Opposition parties have been attacking the government over the economic slowdown and its policies
Mumbai: Following the economic slowdown here, Union Minister Prakash Javadekar said that government will unveil its “plan of action” to boost the economy in the Union Budget to be presented on February 1.
In response to a question about the decline in India’s growth rate by the International Monetary Fund (IMF), he said that the economy is on the path of “revival” and no one should hold a pessimistic view of it.
After the Union Cabinet meeting, the Minister of Information and Broadcasting said, “With the Union Budget you will get the government’s action plan. Our fundamentals are very strong. Therefore, no one should form a pessimistic view of the Indian economy.”
Stating that the economy was on the path of “revival”, he said that there are ups and downs in the world economy, and this is a reflection on the countries’ economy.
The IMF on Monday slashed growth estimates for 2019 to 4.8 per cent, citing tensions in the non-bank financial sector for India, and weak rural income growth as key factors for the downward revision.
Providing an update on the global economy ahead of the start of the World Economic Forum (WEF) annual summit, the IMF cut India’s growth forecast.
India-born IMF chief economist Geeta Gopinath had said that the pace of growth in India has slowed due to tensions in the non-banking financial sectors and weak rural income growth.
Opposition parties have been attacking the government over the economic slowdown and its policies.
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