Amid turbulent global economy, India sustains robust growth: Standing Committee on Finance to LS

 
The 29th report on action taken by the government on the observations of the Standing Committee on Finance on Roadmap for Indian economic growth in light of global economic and geopolitical circumstances was presented in Lok Sabha today. Arun Bharti of LJP (R) tabled the report in Lok Sabha. The Committee noted that amid a turbulent global economy marked by geopolitical tensions, India is sustaining robust growth as real GDP grew by 6.5 per cent in 2024-25, supported by strong domestic demand and investment.
 
The Committee also observed India’s position as the fastest-growing major economy, a status that has been reaffirmed by the International Monetary Fund. The Committee further noted that the investment rate must increase to around 35 per cent of GDP from the current 31 per cent to achieve the ambitious growth target of eight per cent annually for at least a decade. In an increasingly fragmented global trade environment, the Committee acknowledged the commendable growth in India’s exports, with an all-time high in merchandise and services exports. In reply, the government said that it agrees with the Committee’s views. The Committee also recognises the vital role of Micro, Small, and Medium Enterprises as the backbone of the Indian economy.