'India is the Fastest Growing Economy Today In The World' Says, Finance Minister Nirmala Sitharaman

Finance Minister Nirmala Sitharaman while speaking during the no confidence motion debate said that India's economic recovery is the fastest amongst the other global countries. She also spoke about the global economy and the current inflation projection of India.

Sitharaman in her speech spoke that the global economy grew just over 3 per cent in 2022 and the World Bank has forecasted the growth to decline to 2.1 per cent in 2023. She spoke about the struggle of global economies with the twin challenges of inflation and slow rate.

India is fastest growing economy, says FM

While giving her speech she also spoke about Morgan Stanley upgrading India to a higher rank. Sitharaman said, "In 2013, Morgan Stanley had included India in the list of five fragile economies of the world. India was declared a fragile economy. Today, the same Morgan Stanley upgraded India and gave it a higher rating. In just 9 years, the economy rose and saw economic development due to the policies of our government - despite COVID. Today, we are the fastest growing economy of the world."

Reiterating Reserve Bank of India's Governor Shaktikanta Das, Sitharaman said, "India's real GDP growth in 2022-23 stood at 7.2 per cent. In FY24 it is now projected to grow by 6.5 per cent."

Sitharaman takes jibe at opposition

Taking a jibe at the opposition she said, "Earlier they used to say airports will be built, highways will be built, ports will be built, today it has been built. Changes took place by actual delivery, we believe in empowering all and appeasement of none."

She also focused on the maternal mortality rate and said that India is now under 97th where as in 2014 it was at 167th.

Published on: Thursday, August 10, 2023, 12:47 PM IST