India's Economic Resilience Shines Amid Global Uncertainties
India's Finance Minister, Nirmala Sitharaman, emphasized the country's economic resilience due to strong macroeconomic fundamentals, which stand out amid global uncertainties. She highlighted the country's robust GDP growth and called for increased focus on MSME and education loans. Public sector banks were urged to enhance agriculture lending while ensuring loan quality.
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India's economic resilience is a standout amid rising global uncertainties, Finance Minister Nirmala Sitharaman said on Thursday. Speaking at the Bank of Maharashtra's 91st Foundation Day, she cited the country's strong macroeconomic fundamentals as the bedrock of its enduring strength.
Sitharaman emphasized that the April-June quarter saw India's GDP grow by an impressive 7.8 percent, attributing this to proactive fiscal measures, structural reforms, infrastructure development, and enhanced governance. These factors have collectively bolstered India's economic stance globally.
In a related address, Department of Financial Services Secretary M Nagaraju stressed the need for public sector banks to ramp up lending to MSMEs and prioritize education loans. He also called for increased agricultural lending, stressing the importance of maintaining loan quality.
(With inputs from agencies.)
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