Tuesday 17 September 2019
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business-standard - 5 days ago

Low GDP growth is temporary: Ravi Shankar Prasad

Terming the low GDP growth as a temporary phenomenon , Union minister Ravi Shankar Prasad on Wednesday said things will improve in future as the fundamentals of Indian economy are strong. Talking about the 5 per cent GDP growth registered in the first quarter of the fiscal, Prasad said here that global as well as local factors were responsible for it. The fundamentals of Indian economy are very strong. While inflation is 3.15 per cent, fiscal deficit is 3.4 per cent. We have kept both under control. Moreover, India has attracted USD 16.30 billion of foreign investment in 2019-20, a rise of 28 per cent, he said. Our foreign exchange reserves stand at USD 428 billion, said the minister for Law and Justice, Communications and Electronics and Information Technology. The senior BJP leader was here to speak about the achievements of the Narendra Modi government in the first 100 days in the second term. In all these parameters, India is very strong. If the GDP growth is 5

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