Mumbai, Agency: Finance Minister Nirmala Sitharaman on Friday said that the Indian economy will grow at 7.4 per cent in the current financial year and will continue to grow at the same rate in the next financial year as well. Speaking at an event, the Finance Minister said that our own projections are based on new developments and we hope that we will definitely achieve this level. He said that the International Monetary Fund (IMF) and the World Bank have also projected India’s growth rate to be fast in the next two years.
Global conditions continue to be challenging: Nirmala Sitharaman
The estimates of both these institutions also match the estimates of RBI. The Finance Minister said that the global situation continues to be challenging and now is not the right time to be cautious about them. He said the export sector would face constraints due to the slowdown in global growth and the government would work closely with relevant institutions to meet the new challenges.
Nirmala Sitharaman spoke on Rewari culture
Finance Minister Nirmala Sitharaman said that there is a need for a tough debate on Revdi culture. He emphasized that political parties making promises before elections should make budgetary provisions to take care of expenses, and not burden other institutions. Power distribution and generation companies have to bear the brunt of such free schemes.
A few days ago it was reported that in the first quarter (April-June) of the current financial year 2022-23, the GDP growth rate could be 15.7 percent. According to the estimates of SBI Ecowrap, the GDP growth rate can be 7 percent in the second quarter of the current financial year, 4.5 percent in the third quarter and 4.1 percent in the fourth quarter. At the same time, the central government has projected India’s commodity exports to reach $ 470-480 billion in the current financial year.
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