Govt, RBI are making sure the economic momentum in India is not lost amid global slowdown: Sitharama
The authorities are working to ensure that the economy does not lose its momentum despite a slowing global economy, Finance Minister Nirmala Sitharaman said.
“This year and next year, we are the fastest-growing economy and keeping the momentum up is also very important for us,” Sitharaman said at a public interaction in Bengaluru on April 23. “Both the Reserve Bank and the finance ministry are working together to make sure that momentum is not lost.”
The challenges to the economy are more external as countries are going through a recession. As such, their demand might come down, pushing exports lower, the minister said.
We will have to find newer markets and survive in the export area. If companies are not, the domestic market is large and must be tapped into, especially by the micro, small and medium enterprises, she added.