Government confident of sustaining growth momentum: Sitharaman

Bullish on growth: Union Finance Minister Nirmala Sitharaman delivered an optimistic outlook on India's economic trajectory while speaking at the parliament election convention in Thiruvananthapuram. She reflected on the nation's robust economic performance, citing consecutive quarters of growth exceeding 8 per cent, with an 8.3 per cent growth in the third quarter.
“If the economy, after all the trouble, has reached this level, then we are confident that we can sustain growth momentum,” Sitharaman said. 

Sitharaman's address highlights the resilience of India's economy in the face of challenges, expressing confidence in maintaining growth momentum. She stressed on the importance of collaborative efforts from all states in driving India's economic development. Drawing attention to India's growing appeal among investors, Sitharaman credited this to the expanding middle class. Projecting a significant increase in the middle-class population by 2030, reaching 70 crore people and expanding to 100 crore by 2047, she emphasized the imperative of sustaining their purchasing power.

The Finance Minister highlighted India's vast potential for economic expansion and service sector growth, urging concerted efforts to harness these opportunities. She reiterated the government's commitment to supporting economic growth, noting a lack of tax rate increases since 2020 under Prime Minister Narendra Modi's leadership, which has prioritised fiscal stability while fostering growth. Sitharaman reiterated India's potential for sustained growth and the importance of ongoing efforts to realise it. She stressed on Prime Minister Modi's dedication to maintaining fiscal stability and fostering growth without burdening taxpayers with additional taxation.