(ET)
Finance Minister Nirmala Sitharaman today shrugged off questions on the GDP growth declining to 5 per cent in the first quarter, saying the ups and down are part of the growth process and the government is responding to the current economic challenges to revive demand and consumption in the country.
Speaking at a press conference in Chennai, Sitharaman said a dip in the GDP is part of the growth cycle and the government is conscious that it has to respond. “It’s not that government is not responding with measures to boost GDP. A dip in GDP is part of growth. Our full focus is now on how GDP can rise in the next quarter,” she said.
“We will try to frontload infra spending as much as possible,” she said, adding: “We are taking steps to increase consumer confidence in market.”She said the government is working on a few steps for the auto component industry. “Government is conscious on the need to respond to the slowdown in the auto sector,” she said.
