Decline in GDP is temporary: Minister Anurag Thakur

News Karnataka

Decline in GDP is temporary: Minister Anurag Thakur

Decline in GDP is temporary: Minister Anurag Thakur

SC GM   ¦    Nov 30, 2019 06:37:09 PM (IST)

Decline in GDP is temporary: Minister Anurag Thakur-1Mangaluru: Union Minister of State for Finance, Anurag Singh Thakur opined that even though the GDP growth has declined in the recent days, it is temporary and cannot hamper the progress of the country.

He was addressing the gathering during a session on " Money Matters' organised as part of the final day of the 'Lit Fest' at the TMA Pai International Convention Centre.

"The Narendra Modi-led Union Government will always take decisions based on foresight and it will fetch positive results in the coming days. Even though such decisions have caused a drop GDP growth now, it will be set right in the near future," he said.

Thakur said that even though the country's GDP growth has fallen, foreign investors are not afraid of investing in India and have faith in India. He also justified the Central Government's decision to merge ten banks.

"The merging of banks has let to an increase in profits. The Union Government has released Rs 2.5 lakh crores to the banks, which will increase their lending capacity of the banks and benefit the general public as well," Thakur added.