Daijiworld Media Network - Washington (SHP)
Washington, Oct 18: Union Finance Minister Nirmala Sitharaman once again claimed that the Indian economy continues to be among the fastest economies of the world.
IMF had projected a reduced growth rate for India, but Sitharaman stated that the country's economy is 'still growing the fastest'.
In an annual meeting of the IMF and the world bank, Sitharaman claimed that she is 'certainly not risking a comparison' with China. As both, the countries are projected to have a growth rate of 6.1 per cent in an IMF report.
"The IMF (in its latest projections) reduces the growth (rate) for all the global economies. It reduces the growth for India too. But even with that, India is still growing as the fastest growing economy," she said.
The IMF report stated that the Indian economy would be likely to pick up by 2020 at 7 per cent.
"I wish it can be more. I wish it can grow faster. I'll make every effort to make it grow faster. But the fact remains that it is still growing faster," she added.
Further, Sitharaman believes that even when the economy is fast-growing, she will not get complacent.
Observing that several things about the economy are sentiment-driven, the Union Finance Minister accepted that, "It's not growing as much as it used to grow earlier."
Sitharaman said that although the economy is not growing at 8 or 7 per cent, it is performing at 6 per cent in adverse situations, which is acceptable.
Sitharaman assured that she would strive hard to solve grievances in every sector. Alongside, she was asked a question regarding the fiscal deficit, on whether the government is taking subsequent measures on maintaining it at 3.3 per cent. To which she responded she has still not reviewed the fiscal deficit.
"At this stage, I do not want to allow that to worry me. I'm more keen on addressing the issues which the industry wants me to address," Sitharaman said.
When asked whether there is a move to lower personal income tax, she said that it will happen in due time if there is any such move undertaken.