India will continue to be fastest growing economy, even perform better: FM Sitharaman

New Delhi, June 30 (IANS) India will continue to be the fastest-growing economy at the current rate of growth — or even better — and with the monsoon being good, agriculture will definitely come up with a more positive number, Finance Minister Nirmala Sitharaman said on Monday.

The GDP growth accelerated to a robust 7.4 per cent in the fourth quarter of 2024-25, as result of which the growth rate for the full financial year works out to 6.5 per cent on the back of a strong performance of the agriculture, construction, and services sectors, according to latest RBI data.

In a series of posts on X social media platform, taken out from media interviews, the finance minister said this growth rate will continue, and may even become better with good monsoon around.

She further said that deepening of our markets is actually showing and “the retailers are benefitting, ordinary citizens are benefitting”.

“Our systems are transparent. They are digitised and can be accessed from home. Individuals are able to do it on their own rather than depend on others to help them out. These are signs of a very good dynamic economy,” FM Sitharaman emphasised.

According to her, it is clear from the policy that labour-intensive units will be given support.

“We have been specific that handicrafts, handmade goods etc will get succour. So there is no way in which we are choosing between one (labour) and the other (capital/tech). Manufacturing, whether it is employment-intensive, or requires automation, policy support will be given,” the Finance Minister highlighted.

Budget after budget over the past 11 years, this government under Prime Minister Narendra Modi “has made sure that we make some concrete policies that will help people, particularly the MSMEs,” she added.

Like the way PM Modi pushed the Aspirational Districts to meet saturation in most of the schemes, the Dhan-Dhaanya Krishi Yojana will make agricultural productivity the centre focus, and the value addition as the way in which farmers’ income can be increased even in these areas, she mentioned.

“So these are areas in which, in fact, I did suggest to the banks that in these 100 districts, banks should come up with tailor-made schemes for them,” said FM Sitharaman.

PM Modi has also been very keen that defence will not be left wanting.

“Defence’s requirements will be met. Since 2014, attention has been given to small and greater details of demands from defence, whether it is bulletproof jackets or getting the goods in time to the higher reaches,” she posted.

“Indian defence production itself has seen a different growth and today they are also becoming prominent exporters. Other than exports, the way in which domestic capacities have given us the advantage of buying from India for Indian purposes has actually marked the difference,” FM Sitharaman added.

--IANS

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