7.6 Per cent Growth For This Year ‘Very, Very Significant’: Finance Ministry
Terming the projected 7.6 per cent growth for the current fiscal as “very, very significant”, Economic Affairs Secretary Shaktikanta Das today expressed the government’s commitment to work towards boosting economic growth. The statement assumes significance as it comes just a week before the presentation of Budget 2016-17 by Finance Minister Arun Jaitley in the Lok Sabha. It is expected that government will focus on growth by increasing public spending as private investment stays muted due to an uncertain global environment. “The world economy today is experiencing the kind of the volatility which we never saw earlier. There was time when we used to say what is going to happen next week in Europe or in some part of the world we do not know. But today, we have come to a position we do not know what is going to happen the very next day in which part of the world. “We live in a global village. Therefore, whatever happens in any part of the world affects us because India over the last several years is getting increasingly globalised,” he said in the finance ministry’s YouTube channel. However, he said, India remains a bright spot amid the global slowdown.