Suspense Crime Sach Ka Dam
The country‘s Finance Minister Nirmala Sitharaman said on Friday that the slowdown in GDP growth rate in the September quarter is not ‘systemic’ and economic activity with better public expenditure in the third quarter can compensate for this slowdown. In the July-September quarter, the country’s gross domestic product (GDP) grew at a rate of 5.4 percent, the lowest in seven quarters. At the same time, the growth rate was 6.7 percent in the April-June quarter. Amidst this slowdown, the RBI has reduced the growth rate estimate for the current financial year from 7.2 percent to 6.6 percent. The Finance Minister said in a program, “This is not a systemic slowdown. This is due to a decrease in public expenditure, capital expenditure, a nd other similar activities. I hope all this will be compensated in the third quarter.”
India will remain the fastest-growing economy.
The Finance Minister said that in such a situation, it is not necessary to hurt the growth rate data. He said, “We also need to pay attention to many other factors.” The Finance Minister said that India will remain the fastest-growing economy next year and beyond. Due to the general elections and reduction in capital expenditure, the pace of growth remained sluggish in the first quarter. This has also affected the second quarter. In the first half, the government spent only 37.3 percent of its capital expenditure target of Rs 11.11 lakh crore for the financial year 2024-25.
Global demand is not picking up.
Sitharaman said other factors impacting economic growth include stagnant global demand, which has impacted export growth. “The purchasing power of Indians is increasing, but within Indi, you also have concerns about stagnant wage growth. We are well aware of these factors. These can have an impact on India’s own consumption,” she said.
