Significant stability in economy: Finance Minister

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<pre>Significant stability in economy: Finance Minister


Mumbai. Finance Minister Nirmala Sitharaman said that she had no hope of any jump in the figures. The country's economic growth rate slowed to 4.7 percent in the third quarter of 2019-20. Earlier, the GDP growth rate was 5.6 percent in the same quarter of the financial year 2018-19. He said that showing stability in the economy is a good sign.

He said this shortly after the release of official figures of GDP growth rate of 4.7 percent in the third quarter of the current financial year. The finance minister also said that there is no such thing as panic from the corona virus at the moment, but if the situation remains the same for two or three weeks, it can be challenging. He also said that China-based pharmaceutical and electronic industry has suggested to ship the necessary goods by plane, and the government is looking into it.

All options will be open

Sitharaman also said That the government is working towards creating development finance institutions like ICICI and IDBI. Both these institutions have now become full-fledged banks. He said that the ministry is doing whatever it can for the economy while keeping the fiscal deficit under control. None of the options are being discontinued.

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