Taking on former Finance Minister #PChidambaram’s criticism of the state of the economy, Union Minister of State for Finance Anurag Thakur said that India’s economy is resilient and will rebound in the times ahead. via @tragicosmicomic
"Are you not aware that France, Germany, Italy, and U.K. contracted by 8.2%, 4.9%, 8.9% and 9.9%, respectively? Canada, Russia, South Africa, and U.S.A too have seen contraction in their GDP in the past year,” he said, referring to the 7.3% contraction in GDP in 2020-21.
“Consistent reforms have ensured strong fundamentals through these difficult times… (so) India had a swift rebound from a contraction of 24.4% in the 1st quarter of FY 2020-21 to a growth of 1.6% in the 4th quarter,” Mr. Thakur said,
#AnuragThakur said that it is evident that the ‘Lockdown saved lives and gradual unlocking allowed green shoots’ in the economy, as reflected in the record GST collections, growth in auto sales, steel, cement and international air cargo.
“The Index of Eight Core Industries grew 11.4% in March 2021 and a staggering 56.1% in April 2021… Steel and cement sectors grew 27.3% and 32.7%, respectively," the junior Finance Minister pointed out. via @tragicosmicomic
On the former FM’s advice to initiate cash transfers for helping the poor cope with the second wave, Mr Thakur cited the higher procurement of wheat, pulses and rice during the NDA’s tenure and said the Congress had misled farmers on the issue of agricultural laws
…The 8th instalment of #PMKisan via DBTs provided Rs 19,000 cr. directly to farmers. Does this not give the farmer “cash in hand”?” he said, asking Mr Chidambaram how many bank accounts were opened for the poor under the UPA. via @tragicosmicomic
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