GDP Growth in Negative Zone or Near Zero This Fiscal: Sitharaman

Sitharaman said the government focus is on public spending to boost economic activity.

File image of Finance Minister Nirmala Sitharaman, used for representational purposes.

(Photo altered by The Quint)

Finance Minister Nirmala Sitharaman on Tuesday, 27 October, said that there were visible signs of economic revival but that the GDP may be in negative zone or near zero in the current fiscal, reported news agency ANI.

Speaking at India Energy Forum of CERAWeek, Sitharaman said, "Festival season has commenced in India, as a result of which I expect the demand to go up and therefore, be sustainable also."

She also added that Foreign Direct Investment (FDI) between April and August of 2020, grew by about 13 percent as compared to non-COVID 2019’s comparable period.

With Unlock, macroeconomic indicators have shows signs of revival, Sitharaman said, adding that the focus is on public spending to boost economic activity.

(With inputs from ANI)