FM Nirmala Sitharaman said lower than expected GDP growth of 5.4% in second quarter was a "temporary blip"
As per report Finance minister Nirmala Sitharaman on tuesday said the lower than expected GDP growth of 5.4 per cent in the second quarter was a “temporary blip" and the economy will see healthy growth in the coming quarters. Replying to a debate in the lok sabha on the first batch of Supplementary Demands for Grants, she said india has seen "steady and sustained" growth and its GDP growth rate has averaged 8.3 per cent in the last three years.Meanwhile Sitharaman said ‘The second quarter growth is only a "temporary blip", and the economy will see healthy growth in the coming quarters’. The finance minister further said there is no broad-based slowdown in the manufacturing sector. Half of the sectors within the overall manufacturing basket continue to remain strong.Moreover the indian economy grew 6.7 per cent in the first (April-June) quarter and 5.4 per cent in the July-September period. About inflation, Sitharaman said it is better controlled in the nda regime, whereas under the UPA, it touched double digits. Retail inflation in April-October 2024-25 stood at 4.8 per cent, the lowest since the Covid pandemic, she noted. Sitharaman said the unemployment rate has come down from 6 per cent in 2017-18 to 3.2 per cent now.