India fastest-growing economy; Q2 growth was highest in the world: FM Sitharaman in Rajya Sabha
Nirmala Sitharaman on Thursday said that India's second-quarter growth is the highest in the world, and the country continues to maintain its momentum as the fastest-growing economy.
Addressing the Rajya Sabha during the Winter Session of Parliament, Sitharaman asserted that economic activity has been good across sectors.
«India's second quarter growth is the highest in the world as India continues to be the fastest-growing economy.
The third and fourth largest economies (Japan and Germany) have contracted as well as emerging economies. In comparison, India's over 7 per cent growth is significant,» Nirmala Sitharaman said.
She was replying to a debate in Rajya Sabha on the economic situation in the country, which was held over three days with the participation of a large number of members.
Sitharaman also pointed out that India is the second-most sought-after manufacturing destination in the world.
«The manufacturing sector has contributed significantly to economy on the back of various measures like PLI schemes,» she added.
She further said that in a big indicator of economic growth, direct tax collection grew 21.82 per cent this year and the monthly GST collections were stabilised at Rs 1.6 lakh crore.
