December 8, 2023
2 mins read

‘India’s Q2 Growth Highest in the World’

She further said that our second quarter growth has been very high and it is the highest in the world, and we continuously maintained that momentum of being the fastest-growing economy…reports Asian Lite News

Finance Minister Nirmala Sitharaman on Thursday said India’s second quarter growth (in the current fiscal year) has been the highest in the world and the economic activity has been good across sectors.

Addressing the Rajya Sabha during the Winter Session of the Parliament while replying to a debate on the economic situation in the country which was held over three days with the participation of many members, Sithraman said that the manufacturing sector has contributed significantly to the economy on the back of various measures like PLI schemes.

She also said that India is the second most sought after manufacturing destination in the world. She said that manufacturing sector contributes significantly to economy on the back of various measures like PLI scheme.

“All sectors are growing significantly. Because of the Make in India programme and Prime Minister Narendra Modi’s schemes, the manufacturing sector is also significantly contributing to the economy. The manufacturing sector is contributing 13.9 per cent to the economy. The Purchasing Managers Index (PMI) in November was 56. It is in the expansionary territory, so sustained growth is indicative of growth,” she said.

She further said that our second quarter growth has been very high and it is the highest in the world, and we continuously maintained that momentum of being the fastest-growing economy.

“During the same quarter – July to September, 2023, the third and fourth-largest economies of the world contracted. For India to reach 7.6 per cent in the second quarter, it’s a very significant number. In just last eight years, India has become the world’s fifth largest economy,” she told the House.

Meanwhile, former Finance Minister and Congress leader P Chidambaram in a post on ‘X’ said: “In her reply to the three-day debate, the Finance Minister did not provide a direct answer to three pointed questions: Will the GDP double to Rs 200 lakh crore (in constant prices) in the 10 years of the NDA government by 2023-24? According to the NFHS, the proportions of children malnourished, stunted and wasted are unacceptably high. Why? Why have net financial assets of households dipped to a historic low of 5.1 per cent?

“I hope the government will answer these questions and other questions raised by MPs some day,” Chidambaram said.

ALSO READ-

Previous Story

Shami Tops ICC Player of the Month Nominations

Next Story

Indian Students Bear Brunt of Canada’s Doubled Visa Amount

Latest from -Top News

‘Kill and Dump’ Haunts Balochistan Again

The latest killings have reignited accusations of extrajudicial executions and the use of counterterrorism laws to cover up custodial deaths in Balochistan….reports Asian Lite News Concerns have deepened across Balochistan following the

‘ASEAN Expands, But Keeps Its Soul’

Malaysian Foreign Minister Mohamad Hasan urged ASEAN to uphold its unity and strategic resolve amid intensifying geopolitical tensions and mounting external pressures…reports Asian Lite News Consensus and inclusivity will remain the cornerstones

Bangladesh bends to beat Trump’s blow

Dhaka seeks compromise as Trump’s 35% tariff looms large over key exports; Washington urges worker protections, factory relocation to US…reports Asian Lite News Bangladesh has opened the second round of critical trade

China seethes as US lands F-35s in PH

As US F-35 jets land in the Philippines for the first time, Manila cements its frontline role in Washington’s power play against rising China….reports Asian Lite News The Philippines is rapidly cementing
Go toTop

Don't Miss

Modi targets Rahul  in Lok Sabha speech, accuses Cong of speaking lies

PM Modi said Congress should accept the verdict of the

BIMSTEC cancer physicians, policymakers gather in Mumbai

The meeting familiarised participants with the NCG activities, allowing for