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‘India’s GDP growth this year will be negative or near zero’: FM Sitharaman

Video Credit: HT Digital Content - Duration: 01:47s - Published
‘India’s GDP growth this year will be negative or near zero’: FM Sitharaman

‘India’s GDP growth this year will be negative or near zero’: FM Sitharaman

Finance Minister Nirmala Sitharaman said India's Gross Domestic Product (GDP) growth for the current fiscal 2020-21 will be in negative or near zero, owing to the coronavirus pandemic.

The Finance Minister was speaking at the 4th Annual India Energy Forum by CERAWeek on Oct 28.

She further said, "Festival season has commenced in India, as a result of which I expect the demand to go up and therefore, be sustainable also." Sitharaman added, “Foreign Direct Investment (FDI) inflow have seen 13 per cent growth in Covid-19 affected April-August 2020 compared to April-August 2019.” Watch the full video for more details.


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Prime Minister Narendra Modi during a keynote address at ASSOCHAM Foundation Week 2020 on December 19 said that India received a record amount of FDI during COVID pandemic. PM Modi said, "The world has confidence in the Indian economy. During the coronavirus pandemic when the world is distraught over channelling investments, we have received a record amount of FDI. We have to increase our domestic investments in order to sustain this confidence."

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