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FM Nirmala Sitharaman claimed the less than anticipated GDP development of 5.4 percent in the 2nd quarter was a “temporary blip”
Union Finance Minister Nirmala Sitharaman talks in Rajya Sabha throughout dispute on Constitution|Image/Sansad TELEVISION
Finance Minister Nirmala Sitharaman on Tuesday claimed the lower-than-expected GDP development of 5.4 percent in the 2nd quarter was a “short-lived spot” and the economy will see healthy growth in the coming quarters.
Replying to a debate in the Lok Sabha on the first batch of Supplementary Demands for Grants, she said India has seen ” constant and continual” growth and its GDP growth rate has averaged 8.3 per cent in the last three years.
India continues to be the fastest-growing major economy in the world, Sitharaman added.
The second quarter growth is only a ” short-lived spot”, and the economy will see healthy growth in the coming quarters, Sitharaman said.
The finance minister further said there is no broad-based slowdown in the manufacturing sector. Half of the sectors within the overall manufacturing basket continue to remain strong.
The Indian economy grew 6.7 per cent in the first (April-June) quarter and 5.4 per cent in the July-September period. About inflation, Sitharaman said it is better controlled in the NDA regime, whereas under the UPA, it touched double digits.
Retail inflation in April-October 2024-25 stood at 4.8 per cent, the lowest since the Covid pandemic, she noted.
Sitharaman said the unemployment rate has come down from 6 per cent in 2017-18 to 3.2 per cent now.
(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)
