New Delhi, Feb 11 (UNI) Countering opposition criticism that the policies of the NDA Government are responsible for the present state of the Indian economy, Finance Minister Nirmala Sitharaman on Tuesday said due to the policies of the Narendra Modi government, the global sentiment towards India is in a very favourable mood.
Replying to a debate in the Rajya Sabha on the General budget, Ms Sitharaman said as a against a double digit inflation and food inflation during the previous UPA Government, the NDA Government has managed to keep inflation well under 4 per cent.
On criticism by the Opposition that the Government has overshot the fiscal deficit target, she said, 'Consistently we have kept fiscal deficit well within the limits as compared to the numbers before 2014. There is no way that capital expenditure is coming down. We have maintained this fiscal discipline. We are managing both and that is the discipline that should be recognised."
The Finance Minister said green shoots of recovery were visible with a rebound in industrial activity and GST collection crossing Rs 1 lakh crore-mark in six months of the current fiscal.
Listing the steps taken by the Government to bring the economy back on track, she said, 'The nominal GDP has increased to Rs 2.9 trillion. Inflation has been at 4.5 per cent. Central government's liabilities have come down. The global sentiment towards India is at a very favourable mood.
The net FDI flows is 24.4 billion Dollars. We've announced a national infrastructure and we are sure that 1 lakh crore can be taken for spending in infra. IIP numbers have registered a growth. PMI and PMI services have increased. Forex reserves have been built. Gross GST revenue generation is consistently improving. There's a positive confidence on the Indian economy and the BSE Sensex increased. More than this, repo rate cuts are giving a positive growth.'
"Since July, we've been making sure MSME sector is protected. No one sector has had any cut in their resources. The maternal mortality rate and India is appreciated for the faster rate than the global rate itself. Infant mortality rate is now come down and faster rate of decline than global. Increase in number of post graduation seats is also recorded. Health workers numbers are also up. Incidents of TB and malaria cases have come down. No resources have been cut down for any Ministry,' the Minister said.
Rebutting the comments by former finance Minister P Chidambaram that the economy was being managed by incompetent doctors, Ms Sitharaman said that it was during the previous UPA rule that the NPAs ran into crores of rupees.
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