Finance Minister Nirmala Sitharaman has lauded India’s robust economic performance, citing GDP growth rates of 8.2% for the fiscal year 2023-24 and 7.8% for the fourth quarter of the same fiscal year. This achievement, she notes, marks India’s highest GDP growth rate among major global economies.
Sitharaman underscored the noteworthy achievement of the Manufacturing sector, which recorded a substantial growth of 9.9% in the fiscal year 2023-24. This accomplishment highlights the success of the Modi government’s initiatives aimed at bolstering the sector. It underscores the government’s steadfast dedication to nurturing growth and development across pivotal sectors of the economy.
Despite facing challenges on the global front, Sitharaman expressed optimism about India’s economic resilience, citing numerous high-frequency indicators that indicate sustained buoyancy in the Indian economy.
“Many high-frequency indicators indicate that the Indian economy continues to remain resilient and buoyant despite global challenges,” she stated, reaffirming the nation’s ability to navigate through turbulent times and emerge stronger.
Looking ahead, Sitharaman expressed confidence in India’s growth trajectory under the leadership of Prime Minister Narendra Modi. “India’s growth momentum will continue in the third term of PM Narendra Modi-led government,” she affirmed, highlighting the government’s unwavering commitment to driving economic growth, fostering innovation, and creating opportunities for all sections of society.
As India continues its journey towards prosperity, Sitharaman’s remarks serve as a testament to the nation’s resilience, dynamism, and unwavering determination to achieve its economic goals under visionary leadership.
