Growth Rate  

The Vice President of India, M Venkaiah Naidu expressed confidence that the Indian economy would rebound in the near future saying that the current slowdown was cyclical. Inaugurating the 102nd annual conference of the Indian Economic Association on December 27th, he said it was true that the Indian economy was facing some challenges due to the decline in growth this fiscal. However, he said the country had faced similar slumps in the past in the wake of the East Asian financial crisis and global slowdown but bounced back with a higher growth rate every time.

Finance minister Nirmala Sitharaman in in Washington attending the annual meeting of the International Monetary Fund (IMF) and the World Bank. She said that although the IMF has projected a reduced growth rate for India, the economy of the country continues to be among the fastest in the world. 

The World Bank has said that India has reduced its poverty rate by half since 1990 and has achieved a growth rate of over seven percent in the last 15 years. Prior to the meeting with the International Monetary Fund, the World Bank underlined India's role in global development. It said that India has played an effective role in reducing extreme poverty and has made strong improvements in human development. Watch The Video For More Details.

According to the recent report by the United Nations Population Fund, India's population grew at an average annual rate of 1.2% between 2010 and 2019 to 1.36 billion, more than double the annual growth rate of China.

The CEO, Niti Ayog, Amitabh Kant appreciated Modi government. He said, " It is not possible to achieve a growth rate of 7.5% without job creation.”