Lower Q2 GDP growth a temporary blip; economy to improve in coming quarters, says Nirmala Sitharaman
The Hindu
Union Finance Minister Nirmala Sitharaman assures healthy economic growth despite temporary blip, highlighting steady GDP growth and low inflation.
Union Finance Minister Nirmala Sitharaman on Tuesday (December 17, 2024) said the lower-than-expected GDP growth of 5.4% in the second quarter was a "temporary blip" 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 "steady and sustained" growth and its GDP growth rate has averaged 8.3% in the last three years.
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India continues to be the fastest-growing major economy in the world, Ms. Sitharaman added.
The second quarter growth is only a "temporary blip", and the economy will see healthy growth in the coming quarters, Ms. 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% in the first (April-June) quarter and 5.4% in the July-September period.
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