Soothing some worries, Minister of State for Finance Anurag Thakur has said that the economy is not in recession and India recorded the highest average growth among the G-20 nations during 2014-19. The minister also mentioned about continuous measures being taken by the government to improve the overall investment climate and boost the economic growth.
Anurag Thakur further noted that according to the IMF estimates, India continues to be among the fastest-growing economies in the world and its gross domestic product (GDP) is estimated to grow at 5.8 per cent in 2020-21 and is further projected to surpass China with a growth rate of 6.5 per cent in 2021-22.
Minister of State for Finance also underlined improved growth in the Index of Industrial Production (IIP), adding that it registered a positive growth of 1.8 per cent in November 2019 as compared to a contraction of 4 per cent in October 2019 and 4.3 per cent in September 2019.
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