Slowdown Is A Cyclical Process, Indian Economy Fundamentals Are Strong: Prakash Javadekar thehindubusinessline.com
The Central Government on Sunday said that that the current slowdown is temporary and that the fundamentals of the Indian economy remain strong.
Addressing the media on the achievements of the Modi government in its first 100 days, Union Minister Prakash Javadekar said, “Indian economy is on a strong footing as the fundamentals are strong. Slowdown is a cyclical process.”
When further prodded, he said, “There are always some patches. Globally also there is a slowdown, which has an impact on sentiments in the domestic market. The government is responding with actions that are required to be taken. There is nothing to panic.”
He said that India received record amount of foreign direct investment (FDI) last year, which was more than even China’s FDI. “With steps taken for ease of doing business and new rules for bringing in FDI, we expect to see a surge in foreign investments and domestic demand. We will continue to make progress to achieve our target of $5 trillion economy,” Javadekar added.
Leave Your Comment