Finance Minister Nirmala Sitharaman said that there will be a double digit growth in the country this year. (File Pic)
Finance Minister Nirmala Sitharaman said that there will be a growth of about double digits (more than 10 percent) this year in the country. And India will remain one of the fastest growing economies. Sitharaman further said that in 2022, economic growth will be in the range of 7.5-8.5 per cent, which will continue for the next decade as well.
During a conversation at Harvard Kennedy School, the Finance Minister said that if we look at India’s growth, this year the growth is expected to be in double digits. And it will be the highest in the world. And for next year, on this year’s basis, the growth will be somewhere in the range of eight per cent.
India will see growth of 7.5 to 8.5% next year: Sitharaman
Sitharaman also said that while the Finance Ministry has not yet made any assessment regarding the growth figures. But the World Bank, IMF and rating agencies have all talked about this kind of growth for India. The Finance Minister further said that so, next year it will be somewhere in the range of eight to nine per cent, there will be a growth of 7.5 to 8.5 per cent. She said she expects this to continue in the next decade as well, because the rate at which core industries are expanding, the rate at which services are growing, she sees no reason why India should do anything in the coming decades. Will be way less.
India’s growth will be the highest in the world this year: Sitharaman
When asked about the state of the global economy, Finance Minister Sitharaman said that she does not think that you can have a picture for the whole world. Emerging economies are expected to recover rapidly and their growth will be good. They will also drag the global economy forward. He said that and in that, at least the data that has been released last day and last week, they can say that this year India’s growth will be the highest in the world. And it will definitely be based on the low base of last year. But it will continue next year also. And in that too we will be among the fastest growing economies.
Sitharaman also mentioned that in emerging market areas, some other countries will also have record growth rates. He said that developed countries will also follow it, because their base is huge. So, its growth will not be close to double digits. But it will certainly contribute to global growth. Sitharaman further said that she is seeing a different situation in different areas.
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Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.