India Is Still Fastest Growing County In G20 – Nirmala Sitharaman

Mumbai: Finance Minister Nirmala Sitharaman on Monday said in the Lok Sabha that growth has decelerated, but there is no slump and India is still projected to be the fastest-growing economy in FY20 among the G-20 nations.

The International Monetary Fund (IMF) has projected a reduced growth rate for India, but the country’s economy is “still growing as the fastest”, she told a group of Indian reporters on Thursday.

Sitharaman said she is “certainly not risking a comparison” with China, even though the two countries growth rates have been projected at 6.1% in the latest IMF report.

She further added, “The government has been taking several measures to address moderate levels of fixed investment rate in the economy, plateauing of private consumption rate and modest export performance, with a view to increasing the GDP growth of the country.”

As against India’s real growth rate of 6.8 per cent in 2018, the IMF in it’s latest World Economic Outlook released on Tuesday, projected the country’s growth rate at 6.1 per cent for 2019 and noted that the Indian economy is expected to pick up at 7 per cent in 2020.

“Five per cent (growth rate) does not slump. I want to know which the RBI Governor has said it,” Finance minister Anurag Thakur asks after the doubled no. Of taxpayers due to demonetization. He also said that the goal of a $5 trillion economy will be achieved by 2025.

(With Agency Inputs) 

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