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Informist, Friday, May 30, 2025

 

--Sitharaman: Open to bringing in soft touch regulation 
--Sitharaman: Open to suggestions on easing regulations 
--CONTEXT: Finance Minister Sitharaman speaking at an event in New Delhi 
--Sitharaman: India is sustaining growth

 

NEW DELHI – India is sustaining its GDP growth momentum as the fastest growing economy for the fourth consecutive year aided by manufacturing sector, Finance Minister Nirmala Sitharaman said Friday. The economy grew 6.5% in 2024-25 (Apr-Mar), the National Statistical Office said Friday, leaving the growth estimate unchanged from the previous view.

 

"India is sustaining this growth as the fastest growing economy now for the fourth year continuously without a break, thanks to the work of small and medium, large industries, industries which are coming in and making sure our manufacturing capacity, our service capacity are all intact. Agriculture has also sustained us even during Covid and subsequently," Sitharaman said at an event in Delhi.

 

According to latest data, manufacturing sector grew just 4.5% as against 12.3% the previous year. Agriculture sector did better than FY24, growing 4.6% in FY25 as against 2.7% in FY24. But, it is to be noted that agriculture sector had grown at a five-year low in FY24, thereby having a low base.  

 

Sitharaman said in Jan-Mar experts had raised concern that industry was not investing enough and capacities were not increasing. "I'm glad, India's industry...the manufacturing activity have all been so good during Jan-Mar. And Jan-Mar growth alone was 7.4%. As a result, for the entire financial year the GDP numbers are 6.5%," she said.

 

She said the government is committed to remove regulatory difficulties and introduce soft touch regulations so that it is easier to do business. "We cannot have have regulations which stifle business...Every year, if possible with a magic wand we should remove regulatory difficulties. Soft touch regulation allow people to do their businesses without suspicion...I would happily receive any number of suggestions for removing such hurdles to business," sitharaman said.  End

 

Reported by Sagar Sen

Edited by Akul Nishant Akhoury

 

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