Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

Day After India's Sinking GDP Growth Rate, Nirmala Sitharaman Keeps Alive Hope of $5 Trillion Economy

Earlier this week, Sitharaman, during a discussion on economic situation in the Rajya Sabha, said even though economic growth may have slowed but there is no recession.

News18.com

Updated:November 30, 2019, 11:14 AM IST
facebookTwitter Pocket whatsapp
Day After India's Sinking GDP Growth Rate, Nirmala Sitharaman Keeps Alive Hope of $5 Trillion Economy
File photo of Finance Minister Nirmala Sitharaman. (PTI)

New Delhi: Amid the ongoing economic slowdown, Finance Minister Nirmala Sitharaman said Modi government’s initiative to reduce corporate tax rate is a historic move.

“To spur investment and industrial growth for fulfilling the target of 5 trillion dollar economy, the Modi government reduced Corporate Tax rates to among the lowest in the world in a historic move. #6MonthsOfIndiaFirst (sic),” Nirmala Sitharaman tweeted.

In a series of tweets on PM Modi’s completion of six months in office for the second term, Sitharaman lauded the PM's initiatives for economy.

Her tweets come a day after India’s Gross Domestic Product (GDP) growth rate for the second quarter of the ongoing financial year fell to six-year low of 4.5%.

Ahead of the release of the numbers, government data released showed that the output of eight core infrastructure industries contracted by 5.8% in October, indicating the severity of the economic slowdown.

Earlier this week, Sitharaman, during a discussion on economic situation in the Rajya Sabha, said even though economic growth may have slowed but there is no recession.

Soon after the GDP numbers showed a dip in trend, opposition leaders slammed the BJP government over the state of economy. Leading the attack was former prime minister and senior Congress leader Manmohan Singh. He said the current state of the Indian economy was “unacceptable”.

Terming the decline from 5% to 4.5% as worrisome, Singh said, “The sharp decline of GDP from 5% in Q1 to 4.5% in Q2 is worrisome. Mere changes in economic policies will not help revive the economy.”

Congress spokesperson Randeep Singh Surjewala said the country's economy has collapsed and trade an employment have also taken a hit.

Congress' Jaiveer Shergill also trained guns at the BJP government and called for Finance Minister's resignation . "Where there is a Will, there is a way. The BJP neither has the Will nor knows the Way to much needed economic reforms. The first step should be resignation of the finance minister and then she should do financial internship under Dr Manmohan Singh to learn the skill of Financial Management," he was quoted as saying by the ANI.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Next Story
Next Story

facebookTwitter Pocket whatsapp
Most Active
Company Price Change %Gain
Yes Bank 50.55 -10.13
SBI 313.40 -1.04
Indiabulls Hsg 269.70 4.15
HDFC AMC 2,890.10 -3.15
TCS 2,012.85 -2.31
Company Price Change %Gain
Mahindra CIE 148.45 -2.75
Yes Bank 50.40 -10.32
Indiabulls Hsg 270.45 4.42
HDFC AMC 2,891.85 -3.10
SBI 313.20 -1.12
Top Gainers
Company Price Change %Gain
Eicher Motors 21,259.20 1.25
Cipla 453.05 1.15
Bajaj Finance 3,986.85 1.06
HUL 2,025.35 0.86
HDFC Bank 1,249.50 0.53
Company Price Change %Gain
Bajaj Finance 3,990.75 1.15
Bharti Airtel 450.60 1.09
HUL 2,031.00 1.05
ICICI Bank 529.70 0.59
HDFC Bank 1,250.00 0.57
Top Losers
Company Price Change %Gain
Yes Bank 50.55 -10.13
Zee Entertain 270.95 -4.65
GAIL 111.05 -4.43
JSW Steel 251.00 -3.03
Power Grid Corp 182.75 -2.77
Company Price Change %Gain
Yes Bank 50.40 -10.32
Power Grid Corp 182.85 -2.58
IndusInd Bank 1,413.00 -2.55
ITC 235.20 -2.55
Hero Motocorp 2,324.80 -2.45

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results