Politics

Nirmala Sitharaman, India’s GDP growth faster than global economics

Former Finance Minister Nirmala Sitharam on Friday said that global growth may probably be very weak, but the Indian economy is still doing better than the other countries including the United States and China.

Nirmala Sitharaman asserted that India still the fastest economy in the world despite weak global cues.

Global GDP growth may be revised downwards from the current estimate of 3.2 percent; she said adding that globally the demand was going to be weak. But the Indian economy was growing faster than the global average and all other major economies, Sitharaman added.

Asserting that the Bharatiya Janata Party (BJP)-led government at the Centre has kept all reforms at the top of all the agenda,Nirmala Sitharaman said that the government has not lost the momentum.

It is a continuous process. Business-related reforms were carried out by this government ever since it came to power in 2014. We have not lost the momentum; we are keeping that high on agenda,” Nirmala Sitharaman said.

It is a continuous process. Business-related reforms were carried out by this government ever since it came to power in 2014. We have not lost the momentum; we are keeping that high on agenda,” Nirmala Sitharaman said.

As a result of US-China trade war and currency devaluation, the very volatile situation has developed in global trade, she said.

Echoing Prime Minister Narendra Modi’s Independence Day speech talking of respect for wealth creators, she said this was the spirt of her budget for FY20. Sitharaman said she held consultations with different sectors to understand their needs thereafter.

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