Lower Q2 growth a temporary blip, no production slump: Nirmala Sitharaman
Nirmala Sitharaman said, terming the growth deceleration in the three months through September to 5.4% as a «temporary blip.»
Replying to a debate on the first batch of supplementary demands for grants in the Lok Sabha, the FM also ruled out any «generalised slowdown» in manufacturing, growth in which had slumped to 2.2% in the second quarter.
The lower house later approved the first batch of supplementary demand for grants for FY25, involving an additional net spending of ₹44,143 crore.
Half the 43 manufacturing segments in the index of industrial production remained strong in the previous quarter, Sitharaman said. «Let's not pick just one quarter and predict the future (growth). There has been steady growth,» she said. «I am very optimistic about improved performance, going forward.»
The country, she underscored, expanded at an average annual rate of 8.3% in the past three years, and in only two of the last 12 quarters, has the pace of expansion dropped below 5.4%.
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