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NDTV
3 days ago
- Business
- NDTV
India Fastest-Growing Economy For 4th Year, Says Nirmala Sitharaman
New Delhi: Finance Minister Nirmala Sitharaman on Friday said India is sustaining its GDP growth momentum as the fastest-growing economy for the fourth year in a row, aided by manufacturing, services and farm sectors. She said India's manufacturing activity has been "good" during the January-March period, which has helped clock a GDP growth of 7.4 per cent during the quarter and 6.5 per cent for the full 2024-25 fiscal. "India is sustaining the growth, and it is the fastest growing economy now for the fourth year continuously thanks to the work of small, medium, and large industries; industries which are coming in and making sure our manufacturing capacity, our service capacity are all intact. Agriculture has also sustained us even during Covid and subsequently," Sitharaman said. The 6.5 per cent GDP growth for FY'25 comes on a high base of FY'24 when the economy grew at 9.2 per cent. The 7.4 per cent growth in the March quarter was also on a high base of 8.4 per cent in FY'24. Speaking at the Lakshmipat Singhania -IIM Lucknow National Leadership Award, the Minister said during the January-March quarter there were views that industry was not investing enough, capacities were not increasing and questioned its impact on the economy. "I'm glad, India's industry.. the manufacturing activity have all been good during Q4 of 2024-25 and there was a real GDP growth of 7.4 per cent in Q4 alone. As a result, for the entire financial year of 2024-25 (April-March), the real GDP growth was 6.5 per cent," Nirmala Sitharaman said. During the fourth quarter of FY'25, manufacturing output grew at 4.8 per cent, as against 11.3 per cent in the same quarter of FY'24. The services sector expanded 7.3 per cent in the March quarter, while the farm sector growth was 5.4 per cent. Nirmala Sitharaman said every year the Government is working to remove regulatory difficulties and bring in soft-touch regulation, which will allow people to do business without suspicion. She said she is open to receiving suggestions for removing hurdles to business in easing regulatory hurdles. "We are at that part of India's history where it just requires all of us to have confidence in our country's abilities and belief that we can definitely deliver that goal.. how long more are we going to say we are a developing country. "When our own people are going all over the world and working at leadership levels in various sectors. 'It's time for all of us to get out of the suspicion that we have in our minds, will India be able to do, will India be able to reach? Yes, we can," she said. She said in achieving the goal of becoming a developed nation by 2047, the country needs to come out of the evil of petty corruption.
The Print
3 days ago
- Business
- The Print
India fastest growing economy for 4th consecutive year: Sitharaman
'India is sustaining this growth as the fastest growing economy now for the fourth year continuously without a break, thanks to the work of small and medium, large industries, which are coming in and making sure our manufacturing capacity, our service capacity are all intact. Agriculture has also sustained us even during the Covid and subsequently,' Sitharaman said. She said India's manufacturing sector has been 'good' during the March quarter of 2024-25, which helped clock a GDP growth of 6.5 per cent for the full fiscal. New Delhi, May 30 (PTI) Finance Minister Nirmala Sitharaman on Friday said India is sustaining its GDP growth momentum as the fastest-growing economy for the fourth year in a row, aided by manufacturing by small, medium and large industries, services and farm sector. Speaking at the Lakshmipat Singhania -IIM Lucknow National Leadership Award, the minister said that during the January-March quarter, there were views that industry was not investing enough, capacities were not increasing, and questioned its impact on the economy. 'I'm glad, India's industry…the manufacturing activity have all been so good during Quarter four and Q4 growth alone was 7.4 per cent. As a result, for the entire financial year of 2024-25 (April-March), the GDP numbers are 6.5 per cent,' Sitharaman said. During the fourth quarter of FY25, manufacturing output grew at 4.8 per cent, while services and farm sector growth was 5.4 per cent each. PTI JD BAL BAL This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
The Print
3 days ago
- Business
- The Print
India sustaining growth momentum, fastest growing eco for 4 years: Sitharaman
'India is sustaining the growth and it is the fastest growing economy now for the fourth year continuously thanks to the work of small, medium, and large industries; industries which are coming in and making sure our manufacturing capacity, our service capacity are all intact. Agriculture has also sustained us even during Covid and subsequently,' Sitharaman said. She said India's manufacturing activity has been 'good' during the January-March period, which has helped clock a GDP growth of 7.4 per cent during the quarter and 6.5 per cent for the full 2024-25 fiscal. New Delhi, May 30 (PTI) Finance Minister Nirmala Sitharaman on Friday said India is sustaining its GDP growth momentum as the fastest-growing economy for the fourth year in a row, aided by manufacturing, services and farm sectors. The 6.5 per cent GDP growth for FY'25 comes on a high base of FY'24 when the economy grew at 9.2 per cent. The 7.4 per cent growth in the March quarter was also on a high base of 8.4 per cent in FY'24. Speaking at the Lakshmipat Singhania -IIM Lucknow National Leadership Award, the Minister said during the January-March quarter there were views that industry was not investing enough, capacities were not increasing and questioned its impact on the economy. 'I'm glad, India's industry.. the manufacturing activity have all been good during Q4 of 2024-25 and there was a real GDP growth of 7.4 per cent in Q4 alone. As a result, for the entire financial year of 2024-25 (April-March), the real GDP growth was 6.5 per cent,' Sitharaman said. During the fourth quarter of FY'25, manufacturing output grew at 4.8 per cent, as against 11.3 per cent in the same quarter of FY'24. The services sector expanded 7.3 per cent in the March quarter, while the farm sector growth was 5.4 per cent. Sitharaman said every year the Government is working to remove regulatory difficulties and bring in soft-touch regulation, which will allow people to do business without suspicion. She said she is open to receiving suggestions for removing hurdles to business in easing regulatory hurdles. 'We are at that part of India's history where it just requires all of us to have confidence in our country's abilities and belief that we can definitely deliver that goal.. how long more are we going to say we are a developing country. 'When our own people are going all over the world and working at leadership levels in various sectors. '¦ It's time for all of us to get out of the suspicion that we have in our minds, will India be able to do, will India be able to reach? Yes, we can,' she said. She said in achieving the goal of becoming a developed nation by 2047, the country needs to come out of the evil of petty corruption. PTI JD MR This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
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First Post
3 days ago
- Business
- First Post
India sustains growth momentum as fastest growing economy for fourth year in a row: Sitharaman
Finance Minister Nirmala Sitharaman on Friday said India is sustaining its GDP growth momentum as the fastest-growing economy for the fourth year in a row, aided by manufacturing by small, medium and large industries, services and farm sector read more Finance Minister Nirmala Sitharaman on Friday said India is sustaining its GDP growth momentum as the fastest-growing economy for the fourth year in a row, aided by manufacturing by small, medium and large industries, services and farm sector. She said India's manufacturing sector has been 'good' during the March quarter of 2024-25, which helped clock a GDP growth of 6.5 per cent for the full fiscal. 'India is sustaining this growth as the fastest growing economy now for the fourth year continuously without a break, thanks to the work of small and medium, large industries, which are coming in and making sure our manufacturing capacity, our service capacity are all intact. Agriculture has also sustained us even during the Covid and subsequently,' Sitharaman said. STORY CONTINUES BELOW THIS AD Speaking at the Lakshmipat Singhania -IIM Lucknow National Leadership Award, the minister said that during the January-March quarter, there were views that industry was not investing enough, capacities were not increasing, and questioned its impact on the economy. More from Business How Indian fintech startups are driving Malaysia's UPI-like digital payments revolution 'I'm glad, India's industry…the manufacturing activity have all been so good during Quarter four and Q4 growth alone was 7.4 per cent. As a result, for the entire financial year of 2024-25 (April-March), the GDP numbers are 6.5 per cent,' Sitharaman said. During the fourth quarter of FY25, manufacturing output grew at 4.8 per cent, while services and farm sector growth was 5.4 per cent each.
