Nirmala Sitharaman | India is not a dead economy; Nirmala Sitharaman presents figures

Union Finance Minister Nirmala Sitharaman has said that India is not a dead economy. Nirmala Sitharaman has proved this by presenting various figures. The Finance Minister responded in this way to US President Donald Trump's statement that 'India is a dead economy'. The Finance Minister was speaking in an exclusive interview with Network 18 Editor-in-Chief Rahul Joshi.

"I do not comment on the comments of a foreign head of state. But I am more concerned about the critics within the country. A responsible opposition will not repeat such statements," said Nirmala Sitharaman.

GST reforms and its benefits
The new GST Council approved a two-slab structure. The rates of 12% and 28% were eliminated and the tax rate on essential goods was reduced. "99% of goods and services covered by GST are now in the 0%, 5%, or 18% slabs. Only 1% are in other higher rates. This has removed confusion in the tax system," the Finance Minister said.

GDP has increased, inflation has decreased
The Finance Minister said that the country's first quarter GDP growth was 7.8% and inflation has decreased. She said that inflation has been controlled through GST reforms. Due to GST reforms, people will be able to buy more goods for the same amount. This will help industries and consumers alike, said Nirmala Sitharaman.

More money in the hands of citizens
Nirmala Sitharaman said that more money has come into the hands of citizens due to the reduction in income tax. "They are getting more income because of the reduction in income tax. "That is why daily necessities are now affordable," she said. The Finance Minister clarified that the rupee is depreciating only against the dollar, while the rupee is stable against other currencies.

Relief from US tariffs
The Finance Minister announced that the government has prepared a package to help exporters struggling due to US import tariffs. "This will help exporters cope with the impact of import tariffs and find new markets," she added.