Financial Year 2022-23: Union Finance Minister Nirmala Sitharaman said on Friday that the Indian economy will grow at the rate of 7.4 percent in the financial year 2022-23. He said that this momentum will continue in the next financial year also. Sitharaman said at the FE Based Bank Award Program here, “Estimates based on activities suggest that we will definitely be at this level… 7.4 (percent) and this level will continue next year also.” .’
Referring to the growth forecasts of the International Monetary Fund (IMF) and other institutions, the Union Finance Minister said that the International Monetary Fund and the World Bank have projected India’s growth rate to be the fastest for the next two financial years. It is worth noting here that this estimate of the Union Finance Minister also matches the estimate of the Reserve Bank of India. He said that the global situation continues to be challenging and there is a need to be very careful about the situation right now.
Global growth slows
Finance Minister Nirmala Sitharaman said that the export sector will face difficulties as global growth has slowed down. The government will work closely with these institutions, so that they can face adversity. Sitharaman said that there is a need for a substantive debate on freebies.
Pay attention to the budget of political parties before the election
Along with this, Union Finance Minister Nirmala Sitharaman emphasized that political parties making promises before elections should not make budgetary provisions to take care of expenses. That should put the burden on other institutions. The Finance Minister said that power distribution companies and generation companies have to bear the brunt of such free facilities.
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