On Monday, the government said that the Indian economy is not in a recession and India has recorded the highest average growth among the G20 countries during 2014-19. In response to the question in the Lok Sabha, Minister of State for Finance Anurag Thakur said that according to IMF estimates, India is one of the fastest-growing economies in the world and its GDP rate of 5.8 percent in 2020-21 and is projected to grow at a growth rate of 6.5 percent in 2021-22, he said, adding that India will overtake China.
Minister Anurag Thakur said according to the National Statistics Office (NSO), the average growth of GDP in 2014–19 was 7.5 percent, the highest among the G-20 countries. In other questions, the Ministry was asked whether the Indian economy is in a difficult phase due to the recession, most international agencies have also confirmed this.
Thakur further said that the Industrial Production Index (IIP) growth has improved, as it has registered a positive growth of 1.8 percent in November 2019, compared to 4 percent in October 2019 and 4.3 percent in September 2019. The IIP contract in September 2019 indicated the weakest performance in six years. The minister said that the government is constantly taking all possible measures to improve the investment climate and promote economic growth.
