New Delhi: Finance Minister Nirmala Sitharaman on Tuesday said in Lok Sabha that the economy is not in trouble and there are green shoots in the economy. She also asserted that the country is moving towards a USD 5 trillion economy.
“There are seven important indicators which show that there are green shoots in the economy…economy is not in trouble,” she said while replying to a debate on the Union Budget in Lok Sabha.
The Minister listed the various initiatives taken by the government and said that Foreign Direct Investment increase, rise in factory output and over Rs 1 lakh crore GST collection in the past three months are indications of green shoots in the economy.
She said the government’s focus is on four engines of growth which include private investment, exports, private and public consumption.
Regarding public investment, she said, “The government in December announced a National Infrastructure Pipeline.It envisages investment of Rs 1.03 lakh crore for infrastructure development across the country in the next four years (till 2024-25).”
The government has also increased the Minimum Support Price of all mandated Rabi and Kharif crops for 2019-20 in order to boost consumption.