Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2018        Go!    
 
 
April 26, Thursday 2018 5:46 AM       

       HEADLINES: Baby girl found abandoned                                              Sreejith’s family comes down heavily on CM                                              Was Liga murdered?                                              CM might have made statements out of innocence                                              Pinarayi death case: 'Auto-driver bought rat poison for Soumya'                                              Maneka bats for compensation for male victims of child sexual abuse                                              4 members of Ravi Pujari gang sentenced to 5 years in jail                                              Shimla rape: Accused sent to judicial custody                                              Dogs back, wife out. Imran Khan's marriage again on rocks                                              Lashkar-e-Taiba leader Abdul Rehman Makki insults Guru Nanak Dev                                              I would love to get out of Syria: Trump                                              Pak Army Chief arrives in Russia, touts defence ties                                              Gautam Gambhir steps down as Delhi Daredevils IPL 2018 captain, Shreyas Iyer new boss                                              Former Indian athlete Tony Daniel passes away                                              IPL: Sunrisers Hyderabad bowler reprimanded for breaching code of conduct                                              Kaumudi Facebook
       BUSINESS Next Article: Rupee ends 2017 on bullish note, hits 4-mth peak of 63.87  
       Jaitley terms oppn comments on economy 'exaggerated'
 
         Posted on :22:31:46 Dec 29, 2017
   
A A
       Last edited on:22:31:46 Dec 29, 2017
         Tags: Jaitley terms oppn comments on economy 'exag
 
New Delhi:  Finance Minister Arun Jaitley today dismissed as "exaggerated" the suggestion that India's growth rate plummeted to an all-time low, saying that for the last three consecutive years, the country has remained the fastest growing economy in the world.
 
Jaitley's remarks came after TMC MP Saugata Roy said the country's growth rate plummeted to an all-time low of 5.7 per cent in the first quarter of 2017-18 and showed only a small rise in the second quarter.
 
"The honourable member's phraseology, with utmost respect to him, is somewhat exaggerated. Our economy, for three years in a row, is the world's fastest growing economy," he said in Lok Sabha during the Question Hour.
 
The minister said this year, even the IMF and the World Bank have said that by 0.1 per cent, India will be the second fastest growing economy.
 
"Therefore, to exaggerate that situation to say that we have hit the bottom and that it is a 'rot' that has set in is somewhat not correct," he said.
 
When Roy clarified that he used the word "rut" not "rot", Jaitley said "rut is worse than rot".
 
"It is somewhat an exaggerated explanation or analysis as far as the economy is concerned. Let me tell you that in the first quarter, if one analyse the data in detail, the services sector rose by 8.7 per cent which was quite robust, which actually meant that people were making purchases," he said.
 
The minister said there was no demonetisation effect visible as there was currency available with people in order to make the purchases.
 
"It is because the 1st July date for GST has been announced in advance, the destocking itself was taking place and manufacturing for that quarter had remained suspended which we have seen in the next quarter that it has suddenly picked up.
 
"The second quarter detail itself reflects that. All indications seem to suggest that in the coming quarters the curve is going to be on an upward swing," he said.
 
Jaitley said as far as expenditure is concerned, in the second quarter, the manufacturing sector has touched seven per cent level.
 
"Therefore, when the manufacturing sector touches seven per cent level, to say that the government should go in for tax cuts and for larger fiscal deficits, which are measures the government takes in extreme situations, is not proper," he said.
A A
       BUSINESS
Next Article: Rupee ends 2017 on bullish note, hits 4-mth peak of 63.87
 
 
BUSINESS HEADLINES
Kazakhstan introduces 72-hour free transit visa for Indian citizens  
Maharana of Udaipur witnesses "Treasure from the Al Thani Collections" at Beijing  
CBDT notifies introduction of section 112A in the Act  
'Diesel price hike affecting garment industries'  
Sensex gains for 2nd day, Nifty tops 10,600-level  
E-way bill rollout on Wednesday in four states: Centre  
Nifty ends above 10,550, up 20.65 points  
Millennials switching jobs fast, techies lead the way: Study  
Deposits in Jan Dhan accounts cross Rs. 80,000 crore  
Is cash crunch affecting printing machinery biz?  
Recruitment growth eases to 3% in March '18  
India's role to expand in Indo-Pacific region: IMF  
Forex reserves at life-time high of $426.082 bn  
Sensex ends flat; tech stocks surge  
Passengers could be compensated up to Rs. 20,000 for flight delays, cancellations: draft rules  
Rlys' operating ratio could be its worst ever in FY 18  
Chai villa: Engineering couple who gave up cushy jobs to sell tea  
Sensex spurts 96 pts in see-saw trade; metals shine  
Cash crunch: Now bank unions threaten agitation  
Sensex rises over 100 pts, Nifty above 10,500  
Reports of cash shortage defy logic: SBI  
Lenders need to be proactive in monitoring borrowers: RBI  
Loan default: DPIL directors presented before CBI court  
Parliamentary Committee summons RBI Governor amid banking scams  
Pay extra for choosing middle seats on Air India flights  
 
Do you agree with setting age limits for giving death penalty to rapists?
yes
 
no
 
no opinion
 
 
 
Home Kerala India World Business Sports Sci&Tech Education Automobile CityNews Movies Environment Letters 
© Copyright keralakaumudi Online 2011  |  Reproduction in whole or in part without written permission is prohibited.
Head Office Address: Kaumudi Buildings, Pettah P.O, Trivandrum - 695024, India.
Online queries talk to Deepu Sasidharan, + 91 98472 38959 or Email deepu[at]kaumudi.com
Customer Service -Advertisement Disclaimer Statement   |  Copyright Policy