{"id":1047,"date":"2025-12-15T23:20:35","date_gmt":"2025-12-15T17:50:35","guid":{"rendered":"https:\/\/newsaxis.com\/?p=1047"},"modified":"2025-12-15T23:20:35","modified_gmt":"2025-12-15T17:50:35","slug":"india-fastest-growing-economy-no-dead-economy-gets-credit-rating-upgrade-fm-sitharaman","status":"publish","type":"post","link":"https:\/\/newsaxis.com\/?p=1047","title":{"rendered":"India fastest growing economy, no \u2018dead economy\u2019 gets credit rating upgrade: FM Sitharaman"},"content":{"rendered":"\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"450\" height=\"303\" data-id=\"1048\" src=\"https:\/\/newsaxis.com\/wp-content\/uploads\/2025\/12\/FM.png\" alt=\"\" class=\"wp-image-1048\" srcset=\"https:\/\/newsaxis.com\/wp-content\/uploads\/2025\/12\/FM.png 450w, https:\/\/newsaxis.com\/wp-content\/uploads\/2025\/12\/FM-300x202.png 300w\" sizes=\"auto, (max-width: 450px) 100vw, 450px\" \/><\/figure>\n<\/figure>\n\n\n\n<p>New Delhi, While the global growth is 3.2 per cent, India is growing at 8.2 per cent, becoming the fastest growing major economy and every global institution is raising their growth outlook for the country in current fiscal (FY26), Finance Minister Nirmala Sitharaman told Parliament on Monday.<\/p>\n\n\n\n<p>Stressing that no \u201cdead economy gets a credit rating upgrade,\u201d she further stated that India got rating upgrades from three major global agencies &#8212; Morningstar DBRS, S&amp;P and R&amp;I.<\/p>\n\n\n\n<p>&#8220;IMF&#8217;s Chief Kristalina Georgieva said recently \u2018I&#8217;m very big on India because of the boldness of their reforms\u2026 India has proven the naysayers wrong\u2019,\u201d FM Sitharaman told the House.<\/p>\n\n\n\n<p>Despite Covid-19, a once in a century pandemic, India has remained the fastest growing major economy continuously for three-four years.<\/p>\n\n\n\n<p>\u201cIs it not something that the people of India should be recognised for India had to deal with high twin deficits &#8211; both fiscal deficit, which was 4.9 per cent in FY13, and current account deficit (CAD), which was 4.8 per cent in FY13. WPI inflation in food articles averaged 12.2 per cent annually in the five years ending 2013-14,\u201d she mentioned.<\/p>\n\n\n\n<p>She further stated that India has emerged as a net exporter in sectors such as electronics, pharmaceuticals, engineering goods and defence.<\/p>\n\n\n\n<p>\u201cIn 2014-15, the production of electronics good was Rs 1.9 lakh crore. In 2024-25, it is Rs 11.3 lakh crore. In 2014-15, exports of electronics goods was Rs 38,000 crore. In 2024-25, it is Rs 3.27 lakh crore. In 2014-15, there were 2 Mobile manufacturing units. In 2024-25, it has increased to 300,\u201d said Finance Minister.<\/p>\n\n\n\n<p>Actual household consumption shows that the Bottom 40 per cent (B40) of the population is acquiring wealth and assets at a significantly faster rate than the Top 20 per cent (T20), she said.<\/p>\n\n\n\n<p>\u201cInequality in asset ownership has massively declined, particularly in urban areas where the disparity for key assets like motor vehicles and refrigerators has shrunk dramatically. The Rural Poor have experienced a significant growth in purchasing power,\u201d FM Sitharaman mentioned, adding that growth over the last decade has been broad-based.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Delhi, While the global growth is 3.2 per cent, India is growing at 8.2 per cent, becoming the fastest growing major economy and every global institution is raising their [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1048,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20,2],"tags":[],"class_list":["post-1047","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-display","category-national","has_thumb"],"_links":{"self":[{"href":"https:\/\/newsaxis.com\/index.php?rest_route=\/wp\/v2\/posts\/1047","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsaxis.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsaxis.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsaxis.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/newsaxis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1047"}],"version-history":[{"count":1,"href":"https:\/\/newsaxis.com\/index.php?rest_route=\/wp\/v2\/posts\/1047\/revisions"}],"predecessor-version":[{"id":1049,"href":"https:\/\/newsaxis.com\/index.php?rest_route=\/wp\/v2\/posts\/1047\/revisions\/1049"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsaxis.com\/index.php?rest_route=\/wp\/v2\/media\/1048"}],"wp:attachment":[{"href":"https:\/\/newsaxis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1047"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsaxis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1047"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsaxis.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1047"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}