New Delhi: Terming the subdued GDP (gross domestic product) growth in July-September quarter of current financial year 2024-25 as a temporary blip, Union Finance Minister Nirmala Sitharaman on Tuesday said that Indian economy would see healthy growth in the coming quarters.
Replying to members during the discussion on supplementary demands for grants in the Lok Sabha, the Minister said that Indian economy has recorded an average growth rate of 8.3% in the last three years.
“Out of 12 quarters in the last three years, GDP growth rate was lower than 5.4% in two quarters (Q4 of FY22 and Q3 of FY23). So, it’s important to understand that this drop happened in just two quarters in the last 12 quarters that we are talking about. So, let’s not, sort of, pick that one and predict future. This has been a steady growth and sustained growth,” she said.
India’s GDP growth in July-September quarter of current fiscal 2024-25 fell to 5.4%, the lowest level since Q3FY23.
The Lok Sabha on Tuesday passed the first batch of supplementary demands for grants for 2024-25. The approval is for an additional gross expenditure of Rs 87,762.56 crore.
“We are seeking the authorisation of the Parliament for gross additional expenditure of Rs 87,762.56 crores . The net cash outgo or cash supplementary is about Rs 44,182.87 crores. The technical token supplementaries are also mentioned,” Sitharaman said while replying to the discussion.
Out of total expenditure, a sum of Rs 19,416.35 crores is towards capital spending.
“Expenditure on capital account is something I would like to take a minute to say that it is about Rs 19,416.35 crores. The balance of Rs 68,346.21 crore is on revenue account,” the Finance Minister said.
UNI
