Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now

You can switch off notifications anytime using browser settings.
Stock Analysis, IPO, Mutual Funds, Bonds & More

Indian economy structurally, fundamentally strong: MoS Finance

The Narendra Modi-led government has taken several steps to boost the Indian economy, Anurag Thakur said.

Oct 14, 2019, 04.41 PM IST
CHANDIGARH: Indian economy is structurally and fundamentally very strong and the current slowdown, which is cyclical in nature, would not affect it much, Minister of State for Finance Anurag Thakur said on Monday. Thakur further said Narendra Modi-led government has taken several steps to boost the Indian economy.

"The cyclical effect which you could see today will not impact Indian economy much. Why I am saying this because we are structurally and fundamentally very strong and we can face the cyclical winds of today," Thakur told reporters on the sidelines of an event to mark the Panjab University foundation day here.

The Union minister further exuded confidence that India would achieve the target of becoming USD 5 trillion economy by 2024-25. "We will definitely become USD 5 trillion by 2024-25," said Thakur.

"Modi government has taken each such step which will boost the economy. Nobody could ever have imagined that the corporate tax rate will be slashed. We did that in order to attract more investments into India.

"Today, India has become an attractive investment destination in the world. When more investment takes place, the economy will expand and it will also boost employment generation."

When asked that opposition parties have made the current slowdown in the economy as a major poll issue in Haryana and Maharashtra assembly elections, Thakur said the Bharatiya Janata Party will win polls in both these states with big margin.

Besides, the party will also win by-elections in several states because of good governance and development, he said.

Also Read

India-Bangladesh test series: India look to stay at the top

Board Meetings today: Coal India, Hindalco, India Cements, SJVN and NMDC

Prince Charles to visit India next month to celebrate India-UK ties

ET India dialogues: India needs to shift the focus to large-scale employment

India increases troops, patrolling along India-China border

Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.

Other useful Links

Follow us on

Download et app

Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service