Business EconomyPosted at: Jun 14 2026 3:24PM


India continues to be world's fastest-growing major economy: Sitharaman

Delhi, Jun 14 (UNI) union Finance Minister Nirmala Sitharaman on Sunday said India continues to be the world's fastest-growing major economy, even as rising geopolitical tensions and higher energy prices pose fresh challenges to the global growth outlook.
While speaking at the BJP's Viksit Bharat event in Bengaluru, she highlighted India's economic resilience after the country posted stronger-than-expected growth numbers for the January-March quarter.
"India's economy expanded 7.7 per cent in FY26, up from 7.1 per cent in the previous financial year. GDP growth in the March quarter came in at 7.8 per cent, beating economists' expectations and matching the pace recorded in the preceding quarter," she said.
Speaking at the event, she said, "Karnataka has witnessed a significant expansion of welfare and financial inclusion initiatives, with more than 2 crore PM Jan Dhan accounts opened across the state, strengthening access to formal banking services. Under the MUDRA scheme, over Rs 3.4 lakh crore in loans have been disbursed, supporting small businesses and MSMEs, including key industrial clusters such as Peenya and Sirsi."
"Healthcare coverage has also expanded, with more than 1.9 crore Ayushman cards issued, providing beneficiaries with health insurance cover of up to Rs 5 lakh. Meanwhile, around 4 crore people in the state receive free foodgrains under the PM Garib Kalyan Anna Yojana, ensuring food security for vulnerable households," she added.
The agriculture sector has received continued support, with over 43 lakh farmers receiving direct income assistance under PM-KISAN. Additionally, 31.7 lakh Kisan Credit Cards have been issued, improving farmers’ access to institutional credit, the minister said.
Rural infrastructure has seen a boost through the Jal Jeevan Mission, with around 87 lakh rural households in Karnataka now having access to piped drinking water. The state has also recorded 41 lakh Ujjwala LPG connections, supporting cleaner cooking fuel adoption among households.
Social security coverage has expanded through multiple schemes, with 1.67 crore enrolments under PM Jeevan Jyoti Bima Yojana (PMJJBY), 2.60 crore enrolments under PM Suraksha Bima Yojana (PMSBY), and 49 lakh enrolments under Atal Pension Yojana.
"Over 12 crore household toilets, nearly 15.85 crore rural tap-water connections, 10.5 crore Ujjwala connections and free food grains for over 81 crore citizens show how welfare delivery is changing lives of crores of Indians on the ground," the minister highlighted.
"We're taking the approach of saturation governance, ensuring that development reaches the last person in the queue."
UNI VK RSA
Please log in to get detailed story.
Tags: #India continues to be world's fastest-growing major economy: Sitharaman
More News

SCCL to prioritise coal supply for Telangana power plants amid rising demand

17 Jul 2026 | 9:27 PM

Hyderabad, July 17 (UNI)The Singareni Collieries Company Limited (SCCL) on Friday said it would accord top priority to coal supplies for Telangana's thermal power stations to ensure uninterrupted power generation amid rising electricity demand under prevailing El Niño conditions.

see more..

BikeWo, Yubhas Renewables partner to pilot solar-assisted electric three-wheelers

17 Jul 2026 | 9:17 PM

Hyderabad, July 17 (UNI) BikeWo Green Tech Limited on Friday said it has partnered with Yubhas Renewables Private Limited to conduct operational validation of solar-assisted electric three-wheelers aimed at improving mobility in rural and semi-urban areas.

see more..

UBL commissions new canning line at Nizam Brewery with Rs ₹90 crore investment

17 Jul 2026 | 8:32 PM

Hyderabad, Jul 17 (UNI) United Breweries Limited (UBL), part of the Heineken Company and one of India's leading brewers, today commissioned a new canning line at its Nizam Brewery in Telangana, enhancing its manufacturing capacity and strengthening its presence in the state’s growing beer market.

see more..

India's first private orbital-class rocket Vikram-1 to launch on July 18, carrying PM Modi's 'Vande Mataram' message

17 Jul 2026 | 7:36 PM

Chennai, Jul 17 (UNI) India's first privately developed orbital-class rocket, Vikram-1, is set to make its maiden flight on Saturday, marking a major milestone in the country's space programme and the beginning of private orbital launches in India.

see more..

Federal Bank records 37pc surge in Q1FY27 profits to Rs 1,176 93 cr Y-o-Y

17 Jul 2026 | 6:38 PM

New Delhi, Jul 17 (UNI) Federal Bank, India’s private sector bank, on Friday reported net profit of Rs 1,176.93 crore for Q1FY27, which is 36. 57 per cent surge over the corresponding period last year (CPLY), the Bank's statement said here.

see more..