India stands out globally, will continue to grow at fast pace: FM Sitharaman
Nirmala Sitharaman on Wednesday said India is standing out globally in terms of economic growth and will continue to do so in the next few years. Sitharaman said the Unified Pension Scheme (UPS) for government employees approved by the Cabinet last month, balances the interests of government employees as well as taxpayers by not overburdening future generations with heavy pension bills.
«We are much better off than many other countries, even if they are advanced countries, today they are struggling to grow. We are standing out as an economy which is growing at the fastest rate in the last few years, this year and the next few years also for which we can do prediction,» Sitharaman said.
The Indian economy grew at 8.2 per cent in 2023-24. The Economic Survey 2023-24 tabled in Parliament in July projected the economy to clock 6.5-7 per cent growth this fiscal year.
Sitharaman was speaking at the launch of NPS Vatsalya-- a pension scheme for children below the age of 18 years. The minimum contribution for the scheme is Rs 1,000 annually and pension would accrue after 60 years of age.
Sitharaman further said that the NPS scheme has generated competitive returns since its inception.
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