Sitharaman said the GST collections pointed to increased economic activity
Speaking in the Rajya Sabha, Sitharaman hit back at former minister P. Chidambaram for his remark that ‘incompetent doctors are attending to economy’
Finance minister Nirmala Sitharaman on Tuesday claimed the economy is on the mend, relying on seven indicators to show that green shoots have started to emerge in the economy.
India’s economic growth is estimated by the National Statistical Office to hit an 11-year low of 5% in 2019-20. The International Monetary Fund has projected growth to recover to 5.8% in 2020-21.
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Replying to a debate on the Union budget for 2020-21 in the Lok Sabha, Sitharaman pointed to rising foreign direct investments (FDIs), foreign portfolio investments (FPIs), rebound in industrial activity, rising Purchasing Managers’ Index, increasing forex reserves, robust collections of the goods and services tax and a rising Sensex. “These are the seven green shoots showing that the economy is moving forward,” Sitharaman said.
Source: livemint
