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FM: Lower GDP growth in Q2 a temporary blip
Hindustan Times
|December 18, 2024
Union finance minister Nirmala Sitharaman on Tuesday expressed confidence in India's economic growth, calling the second quarter growth rate of 5.4% a "temporary blip" and indicating accelerated capital investments in the second half of FY25, while addressing concerns about economic sustainability raised by parliamentarians.
Responding to Members of Parliament (MPs) questioning whether India can maintain its projected growth rate between 6.5% and 7% this fiscal year, Sitharaman acknowledged Q2 FY25 "has been a challenging quarter" for India and globally. However, she emphasised the country's strong performance over a longer timeframe.
"In last three years, India's GDP growth rate has averaged 8.3%. This is outstanding," she said, comparing it to other major global economies. "India has been the fastest growing major economy in the world," she further said.
This story is from the December 18, 2024 edition of Hindustan Times.
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