Expressing optimism over India’s growth, Finance Minister Nirmala Sitharaman has said that India recorded a 'remarkable growth' of 7.8 per cent in the first quarter (Q1) of fiscal year 2026-27 (FY27) despite global disruptions, and against all odds, remains the fastest-growing major economy in the world. She added that with its strong reform orientation, India has also provided greater regulatory certainty through a range of reforms, including the Insolvency and Bankruptcy Code.
She also said that among the key areas on which the government has focused are creation of capital assets and providing sustained support to industry through infrastructure development, particularly aviation; fostering a friendly and conducive investment climate; promoting the development of AI and data centres; supporting global capability centres; ensuring credit availability to MSMEs; and reducing non-performing assets (NPAs) of banks. She noted that these measures have helped create a more enabling business environment for banks and industry to thrive, grow and emerge stronger.
She further said that India has consistently remained committed to the path of fiscal prudence and fiscal discipline over the past several years, despite the ongoing challenges confronting the global economy since the onset of COVID-19. She highlighted the investment climate in India that has improved significantly, with both the central government and state governments demonstrating greater keenness and competitiveness in attracting and facilitating investments in their respective regions. She said such efforts are part of the larger national endeavour towards achieving the vision of Viksit Bharat 2047.
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