Finance Minister Nirmala Sitharaman on Friday said India’s GDP growth momentum as the fastest-growing economy is continuing for the fourth year in a row, backed by manufacturing by small, medium and large industries, services and the farm sector.
FM Sitharaman talks about economic growth
Speaking at the Lakshmipat Singhania-IIM Lucknow National Leadership Award ceremony in Lucknow, Sitharaman said that during the January–March quarter, questions were being raised about the lack of investment from industry, capacity building, and their impact on the economy.
"There were concerns earlier that industries were not investing enough and that capacities were not growing. But I’m glad to see that India’s manufacturing activity has performed well in the fourth quarter, with Q4 GDP growth at 7.4 per cent. For the full financial year 2024–25, the GDP growth has been recorded at 6.5 per cent," she said.
The Finance Minister credited India’s sustained economic momentum to the resilience of its small, medium and large industries.
India - fastest growing economy for four years in a row
"India is sustaining this growth as the fastest-growing economy now for the fourth year continuously without a break, thanks to the work of small and medium, large industries, which are coming in and making sure our manufacturing capacity, our service capacity are all intact. Agriculture has also sustained us even during the COVID and subsequently," she remarked.
Nirmala Sitharaman credited Prime Minister Narendra Modi's efforts in boosting the economy through his corruption-free India vision.
"The Prime Minister is clear — India must be clean and free from corruption," she said.
During the fourth quarter of FY25, manufacturing output grew at 4.8 per cent, while services and farm sector growth was 5.4 per cent each. [Source: Business Standard]
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