IndiaTheNews NewsRoom: Sitharaman gave great assurance to global investors – ‘Don’t worry, Modi is returning to power with a good majority in 2024’

Good news is continuously being received on the economy front. While global agencies are increasing the estimates of India’s economic growth rate, inflation in the country is continuously decreasing and employment opportunities are increasing rapidly. All this is when almost every small and big country in the world is facing all kinds of troubles, but thanks to India’s economic policies, the country is on the path of continuous progress. Foreign investment in India is also at its highest level. In view of the Lok Sabha elections to be held in the country next year, foreign investors should not become cautious or start reducing their investments. For this, Finance Minister Nirmala Sitharaman also gave great assurance to the global investors. Is.

Let us tell you that Nirmala Sitharaman has claimed that Prime Minister Narendra Modi will return to power in the year 2024 with a ‘good majority’ and said that global investors ‘do not need to panic’ about this. Sitharaman also said that the government is committed to implementing systemic reforms to accelerate economic growth. Let us tell you that the Finance Minister, while participating in an online discussion organized by ‘India Global Forum’, said, “Investors do not need to be worried about the results of the general elections to be held in April-May 2024. ” She said, “It is normal for investors to wait expectantly and I can understand it. But along with me, many people are keeping an eye on the Indian economy, keeping an eye on the political environment, looking at the ground level realities. This is the situation today. That Prime Minister Modi is coming back and with a good majority.

Sitharaman said the government led by Prime Minister Modi has taken several initiatives that have transformed the lives of every Indian and improved the business environment. Along with this he said that this government has not worked for one but for everyone. On the employment front, he said that the government is committed to provide 10 lakh jobs to the youth of the country by December this year through employment fairs organized every month. Of these, about eight lakh jobs have been given so far this year. Regarding climate action, the Finance Minister said that India is moving in this direction with its own money. He described financing the transition to clean energy from fossil fuels as a challenge for emerging and developing economies.

Asked about the impact of the ongoing conflict in Israel and Palestine on the India-West Asia-Europe Connectivity Corridor (IMEC), Sitharaman said it is a long-term project and will not depend on any one major event. Let us remind you that the construction of the proposed corridor was signed during the 18th G-20 summit held in New Delhi in September. It is a multidimensional economic corridor that includes several networks of ships, rail and road.

India’s growth forecast increased

Meanwhile, S&P Global Ratings has raised India’s growth forecast for the current financial year 2023-24 to 6.4 percent from six percent. The US-based agency said the growth projections have been raised as headwinds from high food inflation and weak exports appear to be going away. The agency, however, has reduced the growth forecast for the next financial year 2024-25 to 6.4 per cent, as it believes that growth will remain slow in the second half (October-March) of the current financial year due to high base effect and slow global growth. . “We raised our forecast for India’s GDP growth for fiscal 2023-24 (ending March 2024) to 6.4 percent from 6 percent as strong domestic momentum offset higher food inflation and weak exports,” S&P said. “Growth is expected to remain subdued in the second half of the financial year amid weak global growth, high base and the delayed impact of rate hikes,” the agency said. As a result, we have reduced our estimate for growth in financial year 2025 from 6.9 percent to 6.4 percent. Let us tell you that the Indian economy grew by 7.2 percent in the financial year 2022-23 (ending March 31, 2023). India’s GDP grew by 7.8 percent in the April-June quarter.